Intel CEO Lip-Bu Tan responds to calls for his resignation
Intel CEO Lip-Bu Tan reacts to Trump's demand for his resignation. The mood on the Board of Directors has reportedly been heated for months.
Intel's boss Lip-Bu Tan.
(Image: Intel)
Intel has published a statement by its own CEO Lip-Bu Tan in which he addresses the latest calls for his resignation –, including from US President Donald Trump. At its core are connections to China and investments in companies there worth millions.
Tan writes: "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. 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."
Intel, meanwhile, is "critical to U.S. leadership in technology and manufacturing, to national security and to economic strength." The Intel management now wants to work with the US government to create facts.
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Thick air on the Board of Directors
While the board of directors is united behind Tan, according to the Wall Street Journal (WSJ), there has been a crisis on the board for months. Chairman Frank Yeary in particular is said to have other plans than CEO Tan.
According to the WSJ, Yeary has been pursuing a spin-off of the expensive chip manufacturing division (Intel Foundry) for some time. The information matches past rumors: On the one hand, Yeary is said to have considered a spin-off in which companies such as Nvidia and Amazon could invest. On the other hand, he is said to have considered selling the semiconductor plants to TSMC. Tan, on the other hand, wants to get Intel Foundry out of the billion-euro deficit and keep it as part of the group.
Meanwhile, Intel is said to have won over several Wall Street banks for a billion-euro financial injection. According to the Wall Street Journal, citing people familiar with the matter, an announcement was allegedly planned for July at the time of the latest annual report. However, the board of directors has delayed the process, possibly until 2026, and is also reportedly delaying a potential takeover of an unnamed AI company, in which a competitor is now also said to be interested.
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