Sequoia’s Moritz urges Intel to stand by CEO Lip-Bu Tan amid Trump political pressure

Having known Tan for nearly four decades, former Sequoia Capital partner Moritz credited his Cadence success, called him best suited to lead Intel’s revival, and urged the board to resist “artless bullying” while setting a precedent for corporate independence

Billionaire venture capitalist Sir Michael Moritz has urged Intel’s board to support Chief Executive Lip-Bu Tan, following calls for his resignation from U.S. President Donald Trump. In a strongly worded opinion piece for the Financial Times, Moritz described Trump’s remarks as an “unprecedented” and “vindictive political sideshow,” warning against corporate capitulation to political pressure.

Moritz, a longtime partner at Sequoia Capital before stepping down in 2023, has known Tan for nearly 40 years. He credited Tan with steering Cadence Design Systems through a successful turnaround and argued that “no one is better equipped to transform Intel’s fortunes.” He challenged the board to resist “artless bullying” and instead set a standard for corporate independence.

The dispute escalated last week when Trump posted on Truth Social calling for Tan’s removal, citing alleged conflicts of interest tied to his business connections in China. Senator Tom Cotton (R-Ark.) also voiced concerns about potential national security implications.

Tan meets White House officials

Tan, 65, addressed what he called “misinformation” in a letter to Intel staff, affirming his adherence to “the highest legal and ethical standards.” On Monday (August 11), he met with officials at the White House to discuss his background and potential avenues for collaboration between Intel and the U.S. government.

Intel shares rose nearly 5% following the meeting, which was first reported by The Wall Street Journal.

Moritz, who joined Sequoia Capital in 1986 and helped back early successes like Google and PayPal, framed Intel’s decision as a test of principle for corporate America. “Early signs of defiance are encouraging,” he wrote, signaling optimism that the company may stand firm in its support of Tan.