Trump Demands Intel CEO's Immediate Resignation Amid China Ties Controversy
President Donald Trump has called for Intel's CEO, Lip-Bu Tan, to resign due to conflicts of interest related to his investments in Chinese companies, some linked to the military. This controversy has resulted in a 3.8% drop in Intel's shares, with the company yet to comment.
In a bold statement on Thursday, President Donald Trump demanded the resignation of Intel's new CEO, Lip-Bu Tan, citing significant conflicts of interest due to Tan's extensive ties to Chinese firms. Trump asserted the urgent need for Tan to step down, labeling the situation as one with no alternative resolution.
The call for resignation comes in light of a Reuters report revealing Tan's considerable investments in Chinese companies, including those with connections to the Chinese military, through either personal ventures or affiliated funds.
The allegations have swiftly impacted Intel's financial standing, with the company's shares falling by 3.8%. Despite this pressure, Intel has yet to issue any formal response to these unfolding developments.
(With inputs from agencies.)
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