Board Resolves to Lift Non-Compete Obligations for Company Executives
Original: 公告本公司董事會決議解除本公司經理人競業禁止
Summary
Hon Hai Precision's Board of Directors passed a resolution to release the non-compete restrictions currently binding certain company managers/executives. Under Taiwan's Company Act, executive non-compete obligations may be waived only by formal board approval, making this a legally required disclosure. Investors should monitor MOPS for the full filing to identify which executives are affected, as this may signal senior leadership transitions or outside board appointments. Full body available on MOPS.
Full Translation
Announcement that the Board of Directors has resolved to lift the non-compete restrictions applicable to the company's managers (executives). Under Article 32 of the Taiwan Company Act, managers are prohibited by default from engaging in competitive business activities; a board resolution is the statutory mechanism to waive this obligation for specific individuals. The disclosure signals that one or more named executives have been formally released from their non-compete duties, potentially enabling them to serve concurrently at, or transition to, competing or related enterprises. [Body not available — subject line only. See MOPS for full announcement.]