President Trump called on Intel CEO Lip-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. "There is no other solution to this problem. Thank you for your attention to this problem!"

Intel did not immediately respond to CBS MoneyWatch's request for comment. Its shares slipped 64 cents, or 3%, to $19.77 on Thursday.

The president's call for Tan's resignation comes after Sen. Tom Cotton, a Republican from Arkansas, sent a letter to Intel Chairman Frank Yeary on Tuesday expressing concern over Tan's investments and ties to Chinese businesses.

"Mr. Tan reportedly controls dozens of Chinese companies and has a sta

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