President Donald Trump has urged the CEO of the US chipmaker Intel to step down “immediately” after being accused of having problematic relations to China. He said that CEO Lip-Bu Tan was “highly conflicted” in a social media post, seemingly alluding to Mr. Tan’s purported interests in businesses the US claims have ties to the Chinese military. It is uncommon for a president to order a company CEO to quit.
Mr. Tan was brought on board in March with the goal of revitalizing the tech behemoth, which was a pioneer in the US chips sector but has recently lagged behind rivals. As part of the endeavor to revive America’s semiconductor manufacturing sector, the US government has given it billions of dollars.
Intel said in a statement on Thursday that it was supporting Trump’s “America First agenda” by making large investments in the US. We look forward to our continued engagement with the administration,” the statement said, adding that Intel, the Board of Directors, and Lip-Bu Tan are “deeply committed to advancing US national and economic security interests.”
In a recent report to investors, he stated that to meet consumer demand, the company will be reducing its production expenditures, including those in the US. In an attempt to “right-size” the company, Intel has already laid off thousands of employees this year.
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