Venture capitalist Mike Moritz defends Intel CEO Lip Bu Tan after US President Donald Trump demands his resignation: There is no one better equipped to…
Venture capitalist and former chairman of
Sequoia Capital
,
Mike Moritz
, has publicly defended
Intel
CEO Lip-Bu
Tan
after US President
Donald Trump
demanded his resignation last week. Moritz urged Intel to stand by its CEO, stating there is
'no one better equipped to transform Intel's fortunes."
Moritz, who has known Tan for nearly four decades from his time at Sequoia Capital, described Trump's actions as a
'vindictive political sideshow'
with
'no modern precedent.'
He also highlighted Tan's previous experience in turning around
Cadence Design Systems
as a key reason for his confidence in Tan's ability to lead the US-based chipmaker. Tan may even visit the White House to address concerns about his background and discuss how Intel can collaborate with the US government.
What Mike Moritz said while defending Intel's CEO Lip Bu Tan
In a piece recently published in the Financial Times, Moritz wrote:
'Now the Intel board must decide whether to march to the beat of so many other corporate leaders and capitulate to the president's artless bullying or to set an example for other companies and display some backbone. Early signs of defiance are encouraging.'
Moritz, who joined Sequoia Capital in 1986 and stepped down in 2023, made notable early investments in companies such as Google and PayPal during his tenure.
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This comes after
Trump
took to the social media platform Truth Social to share a post calling for Tan's resignation, describing the 65-year-old as
'highly CONFLICTED.'
Soon after, Senator Tom Cotton (R-Ark) also voiced concerns about Tan's connections to Chinese companies and the possible national security implications.
In response, Tan addressed what he referred to as
'misinformation'
in a letter to employees, stating that he has
'always operated within the highest legal and ethical standards.'
Four former Intel board members - Charlene Barshefsky, Reed Hundt, James Plummer, and David Yoffie - have also supported Trump's criticism of Tan. They've also asked for a more radical shake-up and have even urged Intel to spin off its manufacturing arm to boost US chipmaking dominance and competitiveness.
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