Bu Tan to resign on Thursday, prompting a slide in the technology company's stock."The CEO of Intel is highly CONFLICTED and must resign, immediately," Mr. Trump posted on Truth Social, without providing additional details.

Intel so far is standing by Tan. The company issued a statement Thursday that said the company, the board and Tan are all “deeply committed to advancing U.S. national and economic security interests and making significant investments aligned with the President’s America First agenda.”

A change in leadership could pile pressure on the company as it pushes through a major strategic reset that Lip-Bu Tan started.