|
|
by IANS |
New Delhi, Aug 9 (IANS) US tech major Intel's CEO Lip-Bu Tan has said he would not resign despite US President Donald Trump's public call for his resignation for alleged “deeply conflicted” links to China.
In a letter to Intel's employees, Tan affirmed his commitment to the company and US national security, adding that he has the full support of Intel’s board.
The controversy stemmed from Tan’s previous role as CEO of another US company Cadence Design Systems. This firm pleaded guilty in a criminal case involving the sale of chip design to a blacklisted Chinese military university.
Further, media reports suggested that Tan also invested $200 million in hundreds of Chinese tech startups, including some linked to the Chinese People’s Liberation Army.
Two Republican senators questioned Tan's leadership of Intel and US President Trump's comments increased attention and strained relations between Tan and Intel's board over corporate direction. Intel’s stock fell 3 to 5 per cent in response to the controversy.
In the letter to Intel employees, Tan called the accusations “misinformation” and stressed his long-standing ties to the US.
"I've lived in the US for over 40 years. I love this country and am beyond grateful for its chances,” he wrote.
Tan stressed that Intel is in active talks with the White House to clarify the facts and reaffirmed his commitment to Intel and US national interests. Tan also noted that high-volume manufacturing using the most modern US semiconductor process technology will begin later this year.
Intel's board has publicly expressed support for CEO Lip-Bu Tan’s leadership and reform efforts.
The stock had dipped over 3 per cent after the US President called for Tan's resignation on social media.
Intel shares, however, recovered slightly on Friday after Tan's response, closing at $19.95, up 0.9 per cent from the previous day’s close of $19.77. The stocks earlier showed a 15 per cent upsurge after Tan’s appointment as CEO in March 2025, to a high of approximately $25.94.
Latest News
