Investment Controversy: New Intel Chairman Lipstick Tan is in the midst of deep investment in Chinese companies, some of which are related to the People’s Liberation Army
Intel CEO’s investment in Chinese companies has attracted attention
The report said investors raised concerns about the extent of his continued participation with Chinese companies as TAN was appointed to be the company responsible for the U.S. Department of Defense’s cutting-edge bargaining chips.
According to Reuters’ review of Chinese and U.S. company documents, he has ties to more than 40 Chinese companies and funds through the companies he controls or is associated with, and holds stakes in more than 600 other companies. According to the report, TAN also owns minority ownership with Chinese government entities.
Reuters found Tan made an investment through Walden International, a San Francisco-based venture capital firm that he founded in 1987 and is currently the chairman and even through the report’s two Hong Kong-based holding companies, Sakarya Limited and Seine Limited, as stated in the report.
Andrew King, a partner at venture capital firm Bastille Ventures, said: “The simple fact is that Mr. Tan has no right to be the head of any company that competes with China, let alone companies with actual intelligence and national security consequences, such as Intel and its huge legacy with all areas of the United States and the huge legacy of the U.S. intelligence and defense ecosystem,” Reuters said.
Reuters quoted Reuters as saying that “In this political climate,[China relations]will be responsible business leadership for companies like Intel will at least have serious conversations about how to try and manage.” Diamond added: “It is obviously politically sensitive and the board will definitely want to know that.”
FAQ
Why is tan lips under scrutiny?
Tan is due to investment in Chinese companies, including those related to the Chinese military.
Why is this important to Intel?
Intel plays a crucial role in U.S. defense projects, and any conflict of interest can cause national security issues.
