The Board of Directors of TE Connectivity Ltd., a global major in connectors and sensors, has unanimously approved a proposed change of the company's place of incorporation from Switzerland to Ireland.
Shareholders will be asked to vote in favour of the proposal at a Special General Meeting of Shareholders in Zurich, Switzerland. If approved, TE expects to implement the change in 2024.
TE leadership hub
TE Connectivity does not anticipate any material change in its operations or financial results as a result of the change of domicile. The company will continue to be registered with the U.S. Securities and Exchange Commission (SEC) and will be subject to the same SEC reporting requirements.
The company's common shares will continue to trade on the New York Stock Exchange (NYSE) under the symbol TEL. Switzerland will continue to serve as a TE leadership hub for critical strategic and operational functions.
Safe and sustainable
"After careful consideration, our board of directors has determined that this change is in the best long-term interest of the company and our shareholders and will help position TE for continued success," said Terrence Curtin, Chief Executive Officer (CEO), TE Connectivity Ltd.
Terrence Curtin adds, "This move will not impact our customers or employees and we are excited to continue working together to create a safer, sustainable, productive, and connected future."
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