Intel CEO Under Fire as Trump Demands Resignation Amid China Ties Allegations

Intel shares tumbled 4% in premarket trading after former President Donald TRUMP called for the immediate resignation of CEO Lip-Bu Tan. The demand came via Trump's Truth Social platform, where he labeled Tan "highly conflicted" without specifying further.

The controversy stems from a letter by Senator Tom Cotton alleging Tan maintains extensive business ties to Chinese semiconductor firms, including several with reported links to the Chinese military. Tan previously led Cadence Design Systems, which recently settled a criminal case involving China-related sales during his tenure.

Since assuming Intel's helm in March, Tan has overseen strategic shifts including potential asset divestitures. The chipmaker's stock, up just 2% year-to-date prior to Thursday's drop, now faces renewed scrutiny over leadership stability amid geopolitical tensions.