Trump Calls for Intel CEO’s Resignation Over China Links; Shares Drop 3%

U.S. President Donald Trump has called for the immediate resignation of Intel’s newly appointed CEO, Lip-Bu Tan, citing his ties to Chinese companies, including those in the defense sector, according to Reuters.

In response, Tan reaffirmed his commitment to U.S. national security, stating that he shares the president’s concerns and has the full backing of Intel’s board of directors.

Following the controversy, Intel’s shares closed 3% lower on August 7, reflecting investor reaction to the public dispute.