U.S. President Donald Trump on Thursday demanded the immediate resignation of Intel Corp.’s chief executive officer, Lip-Bu Tan, saying in a Truth Social post that the executive is “highly conflicted.” The rare presidential call for a CEO’s ouster follows months of scrutiny over Tan’s past business ties to China, which critics claim present national-security risks. Tan, who took the helm of the struggling chipmaker in March, has invested at least $200 million in hundreds of Chinese manufacturing and semiconductor companies through his venture-capital firm, Reuters reported earlier this year. Republican Senator Tom Cotton amplified those concerns in a letter to Intel’s board this week that also cited Cadence Design Systems, the chip-design software maker Tan led until 2021; Cadence last month agreed to plead guilty and pay more than $140 million for selling restricted technology to a Chinese military university. Investors reacted swiftly. Intel shares fell as much as 5% in U.S. pre-market trading on Aug. 7 and were still down about 3% by mid-morning, erasing gains notched after Tan’s appointment. Analysts warned that the controversy could complicate Intel’s efforts to reverse years of market-share losses and to tap nearly $8 billion in CHIPS Act subsidies for domestic manufacturing. In an internal memo released late Thursday, Tan said he has “always operated within the highest legal and ethical standards,” called the allegations “misinformation,” and insisted he retains the full backing of Intel’s board. The company said it is engaging with the administration to ensure officials “have the facts.” The Wall Street Journal reported that Tan is scheduled to meet Trump at the White House on Monday, where he is expected to defend his record and outline ways Intel can support U.S. manufacturing goals. The episode adds pressure to a leadership already grappling with strategic disputes inside Intel’s board over whether to keep or shed the firm’s costly chip-fabrication facilities.