Shares in Intel Corporation fell on Thursday following a public demand from U.S. President Donald Trump for the immediate resignation of the company’s Chief Executive Officer, Lip-Bu Tan, citing conflicts of interest.
Trump expressed his concerns in a post on his social media platform, Truth Social, stating, “The CEO of INTEL is highly CONFLICTED and must resign, immediately. There is no other solution to this problem.” Intel has not yet issued any statement in response to these allegations.
Lip-Bu Tan assumed the role of Intel’s CEO in March 2025, taking charge amid attempts to revive the company after a period characterised by reduced sales and operational challenges. His appointment was initially met with optimism by investors, though recent controversies have led to increased scrutiny of his position.
Tan was born in 1959 in Muar, Johor, Malaysia, and received his education in Singapore. He holds a Bachelor of Science degree in Physics from Nanyang Technological University, a Master of Science in Nuclear Engineering from the Massachusetts Institute of Technology, and an MBA from the University of San Francisco.
Tan served as CEO of Cadence Design Systems from 2009 to 2021, where he led significant growth. He also founded the venture capital firm Walden International, which invests extensively in technology sectors worldwide.
Under his leadership, Cadence Design’s stock rose dramatically, and Tan has also served on boards of major corporations such as Hewlett Packard Enterprise and SoftBank. His professional achievements have earned him the Robert N. Noyce Award, the highest accolade in the semiconductor industry.
Nonetheless, concerns have recently surfaced regarding Tan’s financial ties to Chinese companies, including some with connections to China’s military. U.S. Senator Tom Cotton, a Republican from Arkansas, highlighted these issues by writing to Intel’s board chair, stressing the importance of protecting American taxpayer interests and adhering to security regulations.
Cotton questioned whether Intel required Tan to divest from firms linked to the Chinese Communist Party or the People’s Liberation Army.
Reports indicate that these investments were made either personally or through Walden International. An April Reuters article detailed Tan’s stakes in several Chinese firms, intensifying the debate over potential conflicts of interest.
Financially, Intel’s second-quarter 2025 earnings report showed mixed results. The company surpassed analyst expectations but announced substantial cost-cutting measures. Tan outlined reductions in spending within Intel’s foundry division, which experienced an operating loss exceeding $3 billion.
Intel has also cancelled plans for new fabrication plants in Germany and Poland, consolidated testing and assembly operations in Southeast Asia, including Vietnam and Malaysia, and slowed construction of a semiconductor factory in Ohio.
The evolving situation surrounding Tan’s leadership and Intel’s strategic revisions has unsettled investors, mirrored by the recent decline in the company’s share price.