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I have Intel board’s support, CEO says as Trump calls for resignation
3 hours ago
Bloomberg
Lip-Bu Tan has reached out to the White House to clear up what he calls ‘misinformation’ about his ties to China
US president Donald Trump called for Intel CEO Lip Bu Tan to resign over conflicts of interest linked to China. (Reuters pic)
NEW YORK: Intel Corp CEO Lip-Bu Tan said he’s got the full backing of the company’s board, responding for the first time to US president Donald Trump’s call for his resignation over conflicts of interest.
Tan has reached out to the White House to clear up what he called “misinformation” about his track record, he said in a letter to staff posted on Intel’s website.
“I fully share the president’s commitment to advancing US national and economic security,” he told employees. “We are engaging with the administration to address the matters that have been raised and ensure they have the facts.”
On Thursday, Trump posted a call on Truth Social for Tan to resign over what he called conflicts of interest, injecting fresh turmoil at a company already struggling to stem losses and eke out relevance in the artificial intelligence age.
The post came after Republican senator Tom Cotton asked the chairman of Intel’s board this week to answer 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.
“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.”
Soon, the revival of McCarthyism in chicken little America!
ReplyDeleteIt is an objective fact that Cadence Design Systems recently pleaded guilty to Justice Department charges over sales of chip-design software to a Chinese military university.
ReplyDeleteThese advanced software provide sophisticated tools to optimise the design and performance of such chips, and are subject to export control restrictions. Selling this to PLAN-linked entities was illegal.
Tan Lip Bu was CEO of Cadence Design.
The extent of his involvement and /or guilt in the illegal sales is unclear, but he was not personally prosecuted.
In addition, his personal wealth is heavily involved in China investments, including CCP and PLA-linked companies.
Normally, his personal asset investments are his personal business, but his current status as Intel CEO, a key strategic US manufacturer could make him "compromised".