Intel’s top executive fired back at President Donald Trump, who demanded his resignation over reported conflicts of interest earlier this week.
Chief Executive Officer Lip-Bu Tan bemoaned “misinformation” being spread about his track record and said he was committed to the company after Trump called for him to step down due to his reported ties to Chinese firms.
Back in April, Reuters exclusively reported that Tan had invested at least $200 million in hundreds of Chinese advanced manufacturing and chip firms, some allegedly linked to China’s military.
The CEO’s public letter came the same day that Trump criticized those reported investments in a post on his platform, Truth Social. The president called for Tan to “resign, immediately,” adding that there was “no other solution to this problem.”
“I know there has been a lot in the news today, and I want to take a moment to address it directly with you,” Tan’s letter begins.
“I want to be absolutely clear: Over 40+ years in the industry, I’ve built relationships around the world and across our diverse ecosystem – and I have always operated within the highest legal and ethical standards,” Tan wrote in a Thursday, Aug. 7 letter addressed to Intel employees.
Senator questioned Intel CEO’s ties to Chinese firms
The backlash and response came after Republican Sen. Tom Cotton sent a letter to Intel questioning Tan’s ties to Chinese firms and a recent criminal case involving his former firm, Cadence Design Systems.
The Arkansas lawmaker, U.S. Army veteran and attorney cited Reuters’ past reporting regarding Tan’s investments, some of which were made through a venture firm or holding companies.
Cotton previously asked the chair of the Fortune 500 company’s board to respond to questions about Tan’s ties to China, including investments in the country’s semiconductor companies and others with connections to its military.
“There has been a lot of misinformation circulating about my past roles at Walden International and Cadence Design Systems,” Tan wrote in the Aug. 7 letter. “My reputation has been built on trust – on doing what I say I’ll do, and doing it the right way. This is the same way I am leading Intel.”
“We are engaging with the Administration to address the matters that have been raised and ensure they have the facts,” the letter continues. “I fully share the president’s commitment to advancing U.S. national and economic security, I appreciate his leadership to advance these priorities, and I’m proud to lead a company that is so central to these goals.”
The newly appointed CEO went on to tell employees Intel is making progress and backed by its board, whose members are “fully supportive of the work we are doing to transform our company, innovate for our customers, and execute with discipline.”
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Intel announced layoffs in April
In a continuation of Intel’s struggles in recent years, the California-based company in April announced plans to lay off thousands of employees as part of a company-wide cost-cutting push orchestrated by Tan.
At the time, USA TODAY reported, the CEO alluded job reductions that could “span several months.”
Contributing: Kathryn Palmer and Russ Wiles with The Arizona Republic, part of the USA TODAY Network.
Natalie Neysa Alund is a senior reporter for USA TODAY. Reach her at nalund@usatoday.com and follow her on X @nataliealund.
This article originally appeared on USA TODAY: Intel CEO Lip-Bu Tan responds after Trump demands resignation
