Vivic Corp. Announces Change in Board of Directors and Executive Appointment

Vivic Corp. (OTCMKTS:VIVC) recently disclosed through an 8-K filing with the Securities and Exchange Commission a significant change in its leadership structure. On January 25, 2025, Tse-Ling Wang resigned from his position as a member of the Board of Directors of Vivic Corp. The company clarified that Mr. Wang’s resignation was not due to any disagreement regarding the Company’s operations, policies, or practices.

In a strategic decision, the Board of Directors appointed Mr. Kun-Teng Liao as the new Chief Operating Officer of Vivic Corp. Mr. Liao, aged 57, had previously served as a director and secretary of Vivic from August 2021 to October 2024. Following his resignation from these prior roles, Mr. Liao commenced his duties as Chief Operating Officer on January 25, 2025.

Mr. Liao brings a wealth of experience to his new position. He held the position of Chairman at Sino-Phoenix Limited from October 2015 until March 2020, overseeing corporate governance and communication aspects. Additionally, he earned an MBA from Seton Hall University in 2013 and served as the Chairman of EcallBuy Trading Company Limited from 2006 to 2016.

As part of his appointment, Mr. Liao entered an Employment Agreement with Vivic Corp. effective October 1, 2024. Per the agreement, the company can terminate his services at any time with or without cause. To recognize his contributions, Mr. Liao was granted 50,000 shares of the company’s common stock for his services up to September 30, 2025, with provision to receive 20,000 shares annually thereafter. Notably, the agreement entails standard non-disclosure clauses and restrictions against competing with Vivic for two years post the termination of his agreement.

Moreover, the Form 8-K filing indicated that Mr. Liao’s appointment and the associated details, including his employment agreement, constitute items under Sections 5.02 and 9.01 of the filing. The company also disclosed that the Employment Agreement between Vivic Corp. and Mr. Kun-Teng Liao dated October 1, 2024, was included in the filing as Exhibit 10.1.

This move within the executive ranks underscores Vivic Corp.’s strategic efforts to fortify its leadership team and operational efficiency. The appointment of Mr. Liao as Chief Operating Officer brings a seasoned professional to guide the company through its future endeavors.

For more information, interested parties can refer to the official SEC filings or contact Vivic Corp. directly for additional details.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Vivic’s 8K filing here.

About Vivic

Vivic Corp. engages in the construction of marinas and yachts under Monte Fino brand in the mainland China. It operates Joy Wave, an online platform that offers yacht rental and leisure services; development of energy-saving yacht engines; and provision of tourism consultancy services, as well as yacht services.