[Far Eastern Bank] Public announcement on the lifting of non-compete restrictions for new directors
At the shareholder meeting on May 22, 2026, Far Eastern Bank resolved to lift non-compete restrictions for its director, Chou Tien-tsai (Representative of Yuding Industry), to allow concurrent positions. The bank reports no impact on its finances or business operations.
📋 Article Processing Timeline
- 📰 Published: May 22, 2026 at 09:00
- 🔍 Collected: May 23, 2026 at 08:00 (23h 0m after Published)
- 🤖 AI Analyzed: May 24, 2026 at 05:12 (21h 12m after Collected)
1. Date of shareholder resolution: May 22, 2026
2. Name and title of the director permitted to engage in competitive business:
Representative of Yuding Industry Co., Ltd.: Chairman Chou Tien-tsai
3. Scope of permitted competitive business:
Serving as a director or manager in companies with the same or similar scope of business as the bank
4. Period of permission:
During the term as a director of the bank
5. Resolution details (based on Article 209 of the Company Act):
Approved at the annual general meeting of shareholders on May 22, 2026, with over half of the issued shares represented and over two-thirds of the voting rights of shareholders present in favor.
6. Mainland China business engagement:
Not applicable
7. Mainland China company name and position:
Not applicable
8. Mainland China business address:
Not applicable
9. Mainland China business scope:
Not applicable
10. Impact on financial and business operations:
None
11. Investment amount and shareholding ratio in Mainland China business:
Not applicable
12. Other items:
None
2. Name and title of the director permitted to engage in competitive business:
Representative of Yuding Industry Co., Ltd.: Chairman Chou Tien-tsai
3. Scope of permitted competitive business:
Serving as a director or manager in companies with the same or similar scope of business as the bank
4. Period of permission:
During the term as a director of the bank
5. Resolution details (based on Article 209 of the Company Act):
Approved at the annual general meeting of shareholders on May 22, 2026, with over half of the issued shares represented and over two-thirds of the voting rights of shareholders present in favor.
6. Mainland China business engagement:
Not applicable
7. Mainland China company name and position:
Not applicable
8. Mainland China business address:
Not applicable
9. Mainland China business scope:
Not applicable
10. Impact on financial and business operations:
None
11. Investment amount and shareholding ratio in Mainland China business:
Not applicable
12. Other items:
None
FAQ
Why did Far Eastern Bank waive the non-compete clause?
The waiver was approved at the shareholder meeting to allow a director to concurrently serve at another company, in compliance with Taiwanese corporate law.
What is the legal basis for this action?
It was based on Article 209 of the Company Act of Taiwan, requiring approval by shareholders at a meeting with at least two-thirds of the voting rights present.
What impact does this have on future operations?
The bank has reported no direct impact on its financial position or business, but it allows for broader engagement of director expertise.