In a surprising turnover, US President Donald Trump was appreciated by Intel Corp Lip-Bu Tan just days after he publicly demanded his resignation.
This shift came after he met the President in the White House on Monday to clarify what the CEO had called “misinformation” about his records, Bloomberg said.
The shares of the American chips jumped in extended trading by more than 2% after the positive notes of Trump on the meeting on Monday, reported about the press agency.
Why did Trump demand Rip-Bu Tan’s resignation?
Last Thursday, Trump accused Tan of having a conflict of interest because of his ties to Chinese companies. In a contribution to the Trump Community, Trump said that Tan should immediately resign as the head of the American chipmaker and describe him as “highly conflicting”.
Trump’s attack came after the Republican Senator Tom Cotton wrote an intention album that challenged Tanish ties to China. Cotton’s letter emphasized Tan’s investment in Chinese semiconductor companies and other such companies with a connection with the country’s army, the report said.
The contribution had a significant impact on Intel’s shares, which dropped by 3.1%August, the day of the initial notes of President Trump.
Meeting in the White House
After the controversy of Tan, who said he had full support of Intel’s album, he pulled into the White House and wrote on Thursday to his employees that “he is dealing with administration to deal with matters that were raised and ensured that they had facts”.
After the Trump meeting, he published a positive report on the social media and said, “The meeting was very interesting.”
He called Tan’s “success and ascension… an amazing story” and announced that its cabinet members would continue to meet Tan and bring him suggestions next week.
In Intel, in its statement, they said that Tan and Trump had discussed “commitment to strengthen American technology and production management”, “they throw interviews as” sincere and constructive “.
The company added: “We appreciate the strong leadership of the President to advance these critical priorities and look forward to close cooperation with him and his administration when we restore this great American society.”
(Tagstotranslate) President Trump
