Just a fewer months after taking the helm at Intel, president Lip-Bu Tan was at the heart of a powerful crisis.
The situation in the company, previously tensed due to interior friction and production problems, became violent erstwhile Washington entered the game. After a public call for Tan's resignation by Donald Trump, the White home became curious in the case, and the technological actions of the giant reported a sharp decline.
The main reason for the political storm around president Intel is his alleged ties to China. The criticism concerns his professional past – before joining Intel, Lip-Bu Tan led Cadence Design. This company late admitted guilt in the Justice Department's investigation into the sale of chip plan software to a Chinese military university. This case had already alerted at least 2 Republican senators, and Donald Trump's Thursday message only poured fuel into the fire.
External political force is being imposed on the increasingly hard situation within the company. first optimism after Tan took office last March, erstwhile the company's shares jumped by 13%, had long expired. Aggressive cost cuts and restructuring that were expected to heal the company did not prevent problems, specified as continuous difficulties in obtaining in the next generation of 18A production. Moreover, sources talk about deep, multi-monthly disputes between the president and the remainder of the management about fundamental issues, including whether Intel should even proceed to produce chips, which are the core of its operations.
Despite the increasing crisis, Intel officially declares that he is behind his president. However, the financial markets reacted nervously. After Trump's statement, the company's stock fell by 3% on Thursday, returning to the level before Lip-Bu Tan's nomination. It is simply a signal that the trust of investors, which managed to gain at the beginning of his word of office, has completely evaporated.
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