Intel CEO Resists Trump's Call

Recently appointed Intel CEO Lip-Bu Tan is balking at President Trump's insistence that he resign over his past connections to Chinese tech companies. Trump made the demand in a post after a Republican senator questioned Tan's ties to China's government, military, and businesses, calling Tan "highly CONFLICTED." The CEO told Intel employees in a letter on Thursday that "there's a lot of misinformation circulating" about his past positions at Cadence Design Systems and Walden International and that he's working to make sure the Trump administration has the facts, CBS News reports. Tan also said he has the support of Intel's board, per the New York Times.

An American citizen who was born in Malaysia and grew up in Singapore, he wrote, "I have always operated within the highest legal and ethical standards." He added that he supports Trump's "commitment to advancing US national and economic security." Tan, who took over Intel in March, has faced scrutiny of his business dealings for several years. A Bernstein analyst's note Thursday said Tan doesn't appear to be conflicted but added that his ties to China are an "increasingly bad look," per CNBC. "Unfortunately, unlike other tech CEOs Lip-Bu does not appear to have cultivated the kind of personal relationship with Trump that would help to assuage his ire," wrote analyst Stacy Rasgon.