Maxwell Technologies announces director resignation, board adjustments

Suzhou Maxwell Technologies announced that Mr. Li Qiang resigned from his director position due to personal work arrangements, effective immediately. Mr. Li Qiang, who held 568,337 shares or 0.20% of the company's total shares, will continue in his roles as deputy general manager and R&D director. The company expressed gratitude for his contributions during his tenure as director.

In response to Mr. Li Qiang’s resignation and to ensure compliance with relevant regulations, the company's employee representative assembly elected Mr. Shi Zhenghui as the new employee representative director. Mr. Shi Zhenghui directly holds 5,116,025 shares, representing 1.83% of the company's total shares, and meets all qualifications for the role.

Concurrently, the board approved adjustments to the audit committee members. Mr. Shi Zhenghui will join Mr. Liu Yuehua and Mr. Zhao Xu as members of the audit committee, with Mr. Liu Yuehua continuing as the convener. These changes align with efforts to improve corporate governance.