President Donald Trump on Thursday demanded the immediate resignation of Intel Chief Executive Officer Lip-Bu Tan, calling him “highly conflicted” because of past business ties to Chinese technology companies. The rebuke followed a letter from Republican Senator Tom Cotton that questioned whether Tan’s investments pose national-security risks. Intel shares sank as much as 5% in pre-market trading after Trump’s post on his Truth Social platform. Tan, 65, took the helm of the chipmaker in March with a mandate to accelerate a turnaround and deep cost cuts after years of market-share losses. In an internal memo, Tan said “misinformation” is circulating about his record and insisted he has “always operated within the highest legal and ethical standards.” Intel added that its board fully backs the CEO and is engaging with the administration to clarify the matter. Reuters has reported that Tan, through venture funds, invested at least $200 million in hundreds of Chinese tech firms, some linked to the country’s military. Cadence Design Systems, which he led until 2021, pleaded guilty last month to U.S. export-control violations and agreed to pay more than $140 million, intensifying scrutiny of his background. The Wall Street Journal says Tan is scheduled to visit the White House on Monday, where he plans to emphasize Intel’s importance to domestic manufacturing and propose cooperation with the government. News of the meeting lifted Intel shares about 5% in early trading, but analysts warn the political clash could distract from the company’s restructuring drive.