US President Donald Trump praised Intel chief Lip-Boo Tan after meeting with him. Earlier, Trump had asked for Tan's resignation.
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Trump, who has been pressuring Lip-Boo Tan, the chief executive officer (CEO) of the famous American multinational technology company, Intel Corporation, to resign from his position, has now started praising Tan again openly. After meeting with Tan on Monday, Trump called him a person with an "extremely interesting life story".
Trump, who has been pressuring the chief executive officer (CEO) of the famous American multinational technology company, Intel Corporation, Lip-Boo Tan, to resign from his position, has now started praising Tan again openly. After meeting with Tan on Monday, Trump called him a person with a "very interesting life story".
Only a few days ago, Trump made a post on social media and asked Tan to resign from his position. At that time, Trump accused Tan of 'conflict of interest'. But this week, Trump praised Tan, calling his success and progress "amazing."
US Commerce Minister Howard Lutnick and Finance Minister Scott Besant were also present in the said meeting along with Trump. According to the news agency, AP, Trump's cabinet members have said they will stay in touch with Tan. Intel has informed that there was a discussion between Tan and Trump about Intel's commitment to lead technology and manufacturing in America.
In addition, Tan also clarified the speculation about his Chinese investment and involvement with Walden International and Cadence Design Systems. He reiterated his commitment to America claiming that many rumors were spread about his old role. In addition, he said that during his career, he made many connections around the world, but always "acted within the highest legal and ethical standards".
After Trump criticized Intel CEO Tan, the company's shares fell last week. The case started last week after Republican Congressman Tom Cotton wrote a letter to Intel Chairman Frank Yerry. Cotton expressed concern about Tan's investments and semiconductor companies linked to the Chinese Communist Party and the People's Liberation Army. MP Tan asked Intel whether Tan had withdrawn investment from those companies to eliminate any potential conflict of interest.
Immediately after that, Trump wrote on the Truth social platform, "The CEO of Intel is controversial and he should resign immediately." There is no other solution to this problem. He also thanked MP Katan for paying attention to this problem. Tan was appointed CEO of Intel last March. After meeting with Tan on Monday, Trump stopped talking about his resignation.
"I met with Intel's Lip-Boo Tan, the meeting was very enjoyable," Trump wrote on Truth Social, "His story of success and rise is amazing." With this, Intel's share price increased by 3.5 percent on Tuesday.
