Intel shares were under pressure Thursday after President Donald Trump called for the chipmaker’s CEO to resign immediately.
In a Truth Social post, Trump said Intel Chief Executive Lip-Bu Tan “is highly CONFLICTED and must resign, immediately. There is no other solution to this problem.” Intel dropped in the premarket on the back of that post, last trading 5% lower.
Intel did not immediately respond to a request for comment.
Tan was named as Intel CEO in March as the chipmaker tried to rebound from declining sales under the stewardship of Pat Gelsinger.
