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Trump says Intel's CEO must resign, sending its stock tumbling (www.pbs.org)

submitted 9 months ago by cm0002@lemmy.world to c/usa@midwest.social

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Shares of Intel slumped Thursday after President Donald Trump said in a social media post that the chipmaker’s CEO needs to resign.

“The CEO of Intel is highly CONFLICTED and must resign, immediately,” Trump posted on Truth Social. “There is no other solution to this problem. Thank you for your attention to this problem!”

Trump made the post after Sen. Tom Cotton sent a letter to Intel Chairman Frank Yeary expressing concern over CEO Lip-Bu Tan’s investments and ties to semiconductor firms that are reportedly linked to the Chinese Communist Party and the People’s Liberation Army, and asked the board whether Tan had divested his interests in these companies to eliminate any conflicts of interest.

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[–] MagicShel@lemmy.zip 8 points 9 months ago (1 children)

I'm going to assume he just didn't pay Trump enough money or deference. The idea that there might be any actual conflict of interest doesn't even register on the scale.

[–] univers3man@lemmy.world 5 points 9 months ago

Just the republican hands off style of market interference.