Agencia Comercial Spirits CFO leaves board, stays on
Rhea-AI Filing Summary
Agencia Comercial Spirits Ltd. (AGCC) announced that on August 22, 2026, LIU Shihao resigned as an executive director, effective the same day, while continuing in his role as Chief Financial Officer. The company states his resignation from the board was not due to any disagreement with operations, policies, practices, financial reporting or any other matter.
From the same effective date, the board size is set at six directors, comprising two executive directors (LI Qiang and TSAI Yi-Yang) and four independent directors (John Robert FIORE, LEE Su-Jung, TIAN Yiding and LI Cheuk Hang). All three key board committees—the Audit Committee, Compensation Committee, and Nominating and Corporate Governance Committee—are composed entirely of these four independent directors, with different independent directors serving as chairpersons.
The board also approved a supplemental employment agreement with Mr. Liu to reflect his cessation as an executive director while confirming the continuation of his CFO role. His basic salary remains at HK$60,000 per month, and other economic terms of his employment are unchanged.
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Key Figures
Effective date of resignation: August 22, 2026
Board size: 6 directors
Executive directors: 2
+3 more
6 metrics
Effective date of resignation
August 22, 2026
Date LIU Shihao resigned as an executive director and continued as CFO
Board size
6 directors
Exact number of directors constituting the board after the change, effective August 22, 2026
Executive directors
2
Number of executive directors on the reconstituted board
Independent directors
4
Number of independent directors on the reconstituted board
Basic salary of CFO
HK$60,000 per month
Existing basic salary of LIU Shihao under the employment agreement, unchanged in the supplement
Form 6-K signature date
August 24, 2026
Date the report was signed by Director and Chief Executive Officer Tsai Yi Yang
Key Terms
independent directors, Audit Committee, Compensation Committee, Nominating and Corporate Governance Committee, +1 more
5 terms
independent directors regulatory
"comprising two (2) executive directors ... and four (4) independent directors"
Members of a company’s board who do not have significant business, family, or financial ties to the company and are not part of its management; they are chosen to provide impartial oversight of strategy, financial reporting, executive pay and risk. They matter to investors because independent directors act like an objective referee, helping ensure decisions favor shareholders’ long-term interests rather than insiders, which can strengthen trust and reduce the chance of mismanagement or conflicts of interest.
Audit Committee regulatory
"Audit Committee: Consists of Mr. TIAN Yiding, Mr. John Robert FIORE"
A company's audit committee is a small group of board members who act like independent inspectors for the firm's finances, overseeing how financial reports are prepared, monitoring internal controls, and managing the relationship with external auditors. Investors care because a strong audit committee reduces the risk of accounting errors, fraud, or misleading statements, making financial statements more trustworthy and helping protect shareholder value.
Compensation Committee regulatory
"Compensation Committee: Consists of Mr. TIAN Yiding, Mr. John Robert"
A compensation committee is a group within a company's leadership responsible for setting and reviewing how much top executives and employees are paid, including salaries, bonuses, and benefits. It matters to investors because fair and effective pay decisions can influence a company's performance, leadership motivation, and overall governance, helping ensure that the company’s management is aligned with shareholders’ interests.
Nominating and Corporate Governance Committee regulatory
"Nominating and Corporate Governance Committee: Consists of Mr. TIAN"
A nominating and corporate governance committee is a group within a company's board of directors responsible for selecting and recommending individuals to serve as company leaders, such as directors or executives. They also develop and oversee policies to ensure the company is run fairly, ethically, and transparently. This committee matters to investors because it helps ensure the company is well-managed and guided by qualified, responsible leadership.
supplemental employment agreement financial
"The Board approved a supplemental employment agreement between the Company"
FAQ
What board change did Agencia Comercial Spirits Ltd. (AGCC) announce on August 22, 2026?
On August 22, 2026, LIU Shihao resigned as an executive director of Agencia Comercial Spirits Ltd., effective the same day. He remains the company’s Chief Financial Officer, and the company states the resignation did not result from any disagreement on operations or financial reporting.
Does LIU Shihao remain CFO of AGCC after resigning as an executive director?
Yes. The board confirmed that LIU Shihao continues as Chief Financial Officer without interruption. His resignation applies only to his role as an executive director and is not treated as a resignation from or termination of his CFO position or employment.
What is the new board composition of AGCC after the August 2026 changes?
Effective August 22, 2026, the board consists of six directors: two executive directors, LI Qiang and TSAI Yi-Yang, and four independent directors, John Robert FIORE, LEE Su-Jung, TIAN Yiding and LI Cheuk Hang.
How are AGCC’s board committees structured after the changes?
The Audit Committee, Compensation Committee, and Nominating and Corporate Governance Committee each comprise the four independent directors. LI Cheuk Hang chairs the audit committee, LEE Su-Jung chairs the compensation committee, and John Robert FIORE chairs the nominating and corporate governance committee.
Did LIU Shihao’s compensation change in the new supplemental employment agreement at AGCC?
No. Under the supplemental employment agreement, Mr. Liu’s basic salary remains HK$60,000 per month, and his other economic terms under the existing employment agreement remain unchanged. The amendment mainly reflects his cessation as an executive director and continuation as CFO.
When was the AGCC Form 6-K regarding these board changes signed?
The report was signed on behalf of Agencia Comercial Spirits Ltd. by Tsai Yi Yang, Director and Chief Executive Officer, dated August 24, 2026.
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