RestructuringMay 8, 2026, 06:31 AM
Maxeon Solar Sets Judicial Management Hearing; 3 Independent Directors Resign
AI Summary
Maxeon Solar Technologies, Ltd. announced that the High Court of Singapore has scheduled May 29, 2026, as the hearing date for its voluntary judicial management applications. The company and its subsidiary were placed under interim judicial management on April 9, 2026. Concurrently, three independent directors—Don Colvin, Steve Leonard, and Dr. Teo Tong Kooi—resigned from the Board of Directors between May 5 and May 7, 2026, with immediate effect. The interim judicial managers are currently considering the appointment of replacement independent directors.
Key Highlights
- High Court of Singapore set May 29, 2026, for judicial management hearing.
- Maxeon Solar and its subsidiary were placed under interim judicial management on April 9, 2026.
- Voluntary judicial management applications were filed on April 1, 2026.
- Don Colvin resigned as an independent director on May 5, 2026.
- Steve Leonard resigned as an independent director on May 6, 2026.
- Dr. Teo Tong Kooi resigned as an independent director on May 7, 2026.