Ex Intel directors advocate massive shake up as Trump guns for CEO Tan
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In a rare joint statement, four former Intel board members have called for a major restructuring at the chipmaker. Charlene Barshefsky, Reed Hundt, James Plummer, and David Yoffie urged shareholders to call for spinning off Intel Foundry—its manufacturing arm—into an independent company, with its own CEO and board, to restore competitiveness and address national security concerns.The statement to Fortune comes close on the heels of US president Donald Trump calling for Intel CEO Lip-Bu Tan to resign immediately, over his Chinese ties.The ex-directors emphasised that the decision on Tan's future rests with Intel's board and shareholders, but argued that only a decisive break from the current structure could reverse years of underperformance. Intel has cycled through four CEOs in seven years with limited progress, they noted.Intel has two main businesses—the Foundry, which fabricates chips for Intel and third parties, and Intel Products, which produces processors for personal computers and servers, networking equipment, and software. While both verticals are vital for computing, the Foundry's advanced semiconductor manufacturing capabilities are critical to US national security and have been at the forefront of trade talks between Trump and his Chinese counterpart, Xi Jinping.The four ex-directors said separating the chip fabrication unit would make it more agile and competitive against rival TSMC. They also urged that remaining CHIPS Act funds be directed toward the new entity to boost its capabilities and attract orders from US chip design firms.Such a move, they argued, would strengthen America's position in producing cutting-edge chips for commercial and defence needs, providing a viable alternative to TSMC and ensuring the nation retains control over critical semiconductor supply chains. The former directors called on shareholders to press for the split as the necessary step to secure Intel's future and the country's technological leadership.On Thursday, Trump posted on Truth Social platform that Intel CEO Tan is 'highly conflicted', referring to his connections with Chinese companies, and and demanded his immediate resignation.Following Trump's salvo, Republican senator Tom Cotton sent a letter to Intel Chairman Frank Yeary expressing concern over Tan's investments and ties to semiconductor firms that are reportedly linked to the Chinese Communist Party and the People's Liberation Army. He enquired whether Tan had divested his interests in these companies to eliminate any conflicts of interest.Responding to demand for his resignation, Tan said he has "always operated within the highest legal and ethical standards". In a message to Intel employees, Tan clarified that there was misinformation circulating about his past roles at Walden International and Cadence Design Systems and that he's always followed proper standards.
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