Hong Kong Exchanges and Clearing (HKEX) will enforce new limitations on independent non-executive directors (INEDs) starting July next year but has extended the transition period from three to six years. The changes, implemented in two phases, follow a consultation launched in June to address “overboarding” and “long-serving” INED concerns. Under the new rules, an INED cannot serve more than nine years in a single company or hold directorships in more than six listed issuers. Companies must exclude long-serving INEDs by annual meetings after July 2028 and fully comply by July 2031. The proposals, supported by most respondents to HKEX’s consultation, faced pushback from 49% regarding the nine-year independence limit. HKEX says the measures align with global governance standards while balancing stakeholders’ concerns.