[Joe-Chiao] Approval of lifting non-compete restrictions for director at 2026 AGM
At the 2026 Annual General Meeting held on May 21, Joe-Chiao's shareholders approved the waiver of non-compete restrictions for director Chang Chung-chiu. He is now permitted to hold concurrent directorships or management roles in companies with similar business scopes during his term.
📋 Article Processing Timeline
- 📰 Published: May 21, 2026 at 09:00
- 🔍 Collected: May 22, 2026 at 08:00 (23h 0m after Published)
- 🤖 AI Analyzed: May 22, 2026 at 09:21 (1h 21m after Collected)
1. Date of shareholder resolution: May 21, 2026
2. Name and title of the director permitted to engage in competitive activities: Chang Chung-chiu / Director
3. Scope of permitted competitive activities: Investment in or operation of companies with business scopes identical or similar to the Company, and serving as a director or manager in such entities.
4. Duration of permitted activities: During the term of his directorship at the Company.
5. Resolution details (pursuant to Article 209 of the Company Act): Approved by more than two-thirds of the voting rights represented by shareholders in attendance, representing over half of the total issued shares.
6. Name/title of director if the competitive activity involves businesses in mainland China: Not applicable
7. Company name and title in mainland China: Not applicable
8. Address of mainland China business: Not applicable
9. Business scope in mainland China: Not applicable
10. Impact on the company's financial and business operations: None.
11. Investment amount and shareholding ratio if the director invests in mainland China businesses: Not applicable.
12. Other matters: None.
2. Name and title of the director permitted to engage in competitive activities: Chang Chung-chiu / Director
3. Scope of permitted competitive activities: Investment in or operation of companies with business scopes identical or similar to the Company, and serving as a director or manager in such entities.
4. Duration of permitted activities: During the term of his directorship at the Company.
5. Resolution details (pursuant to Article 209 of the Company Act): Approved by more than two-thirds of the voting rights represented by shareholders in attendance, representing over half of the total issued shares.
6. Name/title of director if the competitive activity involves businesses in mainland China: Not applicable
7. Company name and title in mainland China: Not applicable
8. Address of mainland China business: Not applicable
9. Business scope in mainland China: Not applicable
10. Impact on the company's financial and business operations: None.
11. Investment amount and shareholding ratio if the director invests in mainland China businesses: Not applicable.
12. Other matters: None.
FAQ
Why are directors restricted from competing?
Under company law, this prevents conflict of interest and ensures duty of loyalty to the company. Waivers can be granted by shareholder vote.
What happens when the non-compete is waived?
The director is permitted to hold management positions in similar companies, allowing them to leverage their expertise and network.
Is this kind of waiver common?
Yes, it is common in listed companies and corporate groups with many affiliates, provided it follows proper procedures.