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Hon Hai Precision Industry Co. announces board changes and dividend

Published 29/05/2025, 10:40
Hon Hai Precision Industry Co. announces board changes and dividend
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TAIPEI - Hon Hai (TW:2317) Precision Industry Co., Ltd., also known as Foxconn (SS:601138), held its Annual General Meeting (AGM) on Thursday, where shareholders approved several key proposals, including a cash dividend distribution and amendments to the corporate charter.

The company confirmed a NT$5.8 per share cash dividend as part of its 2024 profit distribution plan. In addition to the dividend approval, the AGM saw the ratification of amendments to the company’s corporate charter, though specific details of the changes were not disclosed.

The business report and financial statements were also approved without contest. In a significant reshuffle of its leadership, Hon Hai Precision announced the election of new board members, including LIU, YOUNG-WAY, CHANG, CHING-RAY, and representatives from Hon Jin International Investment Co., Ltd. - CHIANG, SHANG-YI and Dr. Christina Yee-Ru Liu. The company also appointed new independent directors: HWANG, TSING-YUAN, WANG, KUO-CHENG, LIU, LEN-YU, CHEN, YUE-MIN, and HSU, TZU-MEI.

Additionally, the AGM passed amendments to the company’s "Procedures for Lending Funds to Others," "Procedures for Acquisition or Disposal of Assets," "Procedures for Derivatives Transaction (JO:NTUJ)," and "Procedures for Endorsements and Guarantees."

Another notable resolution was the approval to lift non-competition restrictions on directors, allowing them to engage in business activities that may compete with Hon Hai’s interests during their tenure.

The newly elected board will serve a three-year term, effective immediately, from May 29, 2025, to May 28, 2028. The turnover of directors marks a new phase for the company, though it remains to be seen how these changes will influence Hon Hai’s strategic direction and market performance.

The information in this article is based on a press release statement from Hon Hai Precision Industry Co., Ltd.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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