Charlene Barshefsky, Reed Hundt, James Plummer, and David Yoffie said that Intel has hired its fourth CEO in seven years but results have hardly improved. They called for an independent company.

Intel CEO Lip-Bu Tan defended his integrity and vowed to continue leading the semiconductor company through a "critical moment."

Intel CEO Lip-Bu Tan is already facing an uphill battle in turning around the ailing chipmaker. Now, U.S. President Donald Trump's demand that Tan resign over his ties to Chinese firms will only distract him from that task,