Maxeon Solar Directors Resign

TL;DR

Maxeon Solar board loses two directors, no reason given.

AI Summary

Maxeon Solar Technologies, Ltd. announced on June 6, 2025, the resignations of two independent non-executive directors, David Li and Kris Sennesael, from its Board of Directors. The company did not provide specific reasons for their departures in this 6-K filing.

Why It Matters

Changes in board composition can signal shifts in company strategy or governance, potentially impacting investor confidence and future decision-making.

Risk Assessment

Risk Level: medium — Director resignations, especially without stated reasons, can sometimes indicate underlying issues or disagreements within a company, warranting closer scrutiny.

Key Players & Entities

• Maxeon Solar Technologies, Ltd. (company) — Registrant
• David Li (person) — Resigning Director
• Kris Sennesael (person) — Resigning Director
• June 6, 2025 (date) — Date of Report

FAQ

From the Filing

0001213900-25-052076.txt : 20250606 0001213900-25-052076.hdr.sgml : 20250606 20250606160118 ACCESSION NUMBER: 0001213900-25-052076 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20250606 FILED AS OF DATE: 20250606 DATE AS OF CHANGE: 20250606 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Maxeon Solar Technologies, Ltd. CENTRAL INDEX KEY: 0001796898 STANDARD INDUSTRIAL CLASSIFICATION: SEMICONDUCTORS & RELATED DEVICES [3674] ORGANIZATION NAME: 04 Manufacturing EIN: 000000000 STATE OF INCORPORATION: U0 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-39368 FILM NUMBER: 251030429 BUSINESS ADDRESS: STREET 1: 8 MARINA BOULEVARD #05-02 STREET 2: MARINA BAY FINANCIAL CENTRE CITY: MARINA BAY STATE: U0 ZIP: 018981 BUSINESS PHONE: 408.457.2302 MAIL ADDRESS: STREET 1: 8 MARINA BOULEVARD #05-02 STREET 2: MARINA BAY FINANCIAL CENTRE CITY: MARINA BAY STATE: U0 ZIP: 018981 FORMER COMPANY: FORMER CONFORMED NAME: Maxeon Solar Technologies, Pte. Ltd. DATE OF NAME CHANGE: 20191213 6-K 1 ea0244947-6k_maxeon.htm REPORT OF FOREIGN PRIVATE ISSUER UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K Report of Foreign Private Issuer Pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934 Date of Report: June 2025 Commission File Number: 001-39368 MAXEON SOLAR TECHNOLOGIES, LTD. (Exact Name of registrant as specified in its charter) 38 Beach Road #23-11 South Beach Tower Singapore 189767 (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: Form 20-F ☒ Form 40-F ☐ Introductory Note Appointment and Resignation of Directors David Li and Kris Sennesael, each an independent non-executive director on the Board of Directors (the “Board”) of Maxeon Solar Technologies, Ltd (the “Company”), have both resigned from the Board and as a member or chairman, as the case may be, of the Audit Committee, the Compensation Committee, the Strategy and Transformation Committee and the Nominating and Corporate Governance Committee, with effect from June 1, 2025. On May 29, 2025, the Board appointed Dr Teo Tong Kooi to serve as a member of the Board and as a member of the Audit Committee, the Compensation Committee, the Strategy and Transformation Committee and the Nominating and Corporate Governance Committee, with effect from June 1, 2025. Dr. Teo Tong Kooi serves as an independent non-executive director on Maxeon’s Board of Directors and is a member of its Audit Committee, Compensation Committee, Strategy and Transformation Committee, and Nominating and Corporate Governance Committee. Dr. Teo currently is an independent director of China Automotive Systems Inc. (NASDAQ: CAAS), and UOB KayHian Securities (M) Sdn Bhd. He has served as an independent non-executive director of Bank of America Malaysia. In the private equity sector, he was an Investment Committee Member of Isola Capital Ltd. in Hong Kong. Earlier in his career, he served as a Committee Member for SMEs on the Debt Restructuring Committee of Bank Negara Malaysia. Dr. Teo has held multiple senior leadership roles across Asia, including as Chief Executive Officer of DPS Advisory Company Ltd. in China, Group Managing Director of Guocoland China Ltd., and Chief Executive Officer of WCT Holdings Bhd for its China and Vietnam operations. He was also Chief Executive Officer of Hong Leong Asia Ltd. (SGX-listed), and Group Managing Director of Tasek Corporation Bhd (Bursa Malaysia-listed). His earlier banking experience includes roles at Hong Leong Bank Malaysia, Deutsche Bank Malaysia, and United Malayan Banking Corporation. Dr. Teo holds a Doctorate in Professional Studies in Management from New York’s Fordham University in collaboration with Peking University, a Master of Business Administration from Golden Gate University in San Francisco, and a Bac