Leadership Transition at HUTCHMED: New Board Appointments
Leadership Transition at HUTCHMED
In a significant announcement, HUTCHMED (China) Limited has revealed upcoming changes in its board structure. The company has stated that two prominent figures, Mr. Paul Rutherford Carter and Mr. Graeme Allan Jack, will be retiring from their roles as Independent Non-executive Directors after serving for over eight years. Their decision to not seek re-election means that they will step down at the annual general meeting.
Changes to Board Committees
As part of this reshuffle, HUTCHMED is implementing a series of changes to the composition of its board committees, effective following the AGM. Subject to re-election by shareholders, several new appointments have been outlined:
Key Appointments
1) Professor Mok Shu Kam, Tony will take on the role of Senior and Lead Independent Non-executive Director.
2) Mr. Wong Tak Wai will step in as chairman of the Audit Committee, and will also join the Remuneration Committee as a member.
3) Dr. Chaohong Hu is set to join the Audit Committee.
4) Dr. Renu Bhatia will lead the Remuneration Committee as its chairman.
All new appointees are already serving as Independent Non-executive Directors, ensuring continuity in leadership.
Contributions of Retiring Directors
Dr. Dan Eldar, Chairman of HUTCHMED, expressed heartfelt appreciation for the contributions of Mr. Carter and Mr. Jack during their tenure. He highlighted Mr. Carter's influence in shaping the company's remuneration policies, emphasizing the importance of retaining a talented and diverse workforce to execute the company’s strategic goals.
Likewise, Dr. Eldar underscored Mr. Jack's crucial role in overseeing financial integrity and transparency through his leadership of the Audit Committee. Both directors have left a lasting impact, and Dr. Eldar wished them well in their future endeavors.
Compliance and Transparency
In line with Rule 13.51(2) of the HK Listing Rules, both Mr. Carter and Mr. Jack confirmed that there were no disagreements with the Board and no pressing matters for shareholders regarding their retirement. This commitment to transparency ensures stakeholders remain informed as key leadership transitions occur.
About HUTCHMED
HUTCHMED (Nasdaq/AIM: HCM; HKEX: 13) operates as a leading, innovative biopharmaceutical company dedicated to providing groundbreaking therapies for cancer and immunological diseases. With a strong pipeline focused on global development and commercialization, HUTCHMED aims to bring its innovative drug candidates from discovery to the market.
The company has successfully launched its first three medicines, primarily in China, with one receiving global approval across several major markets, including the US, Europe, and Japan.
For more information about HUTCHMED, visit www.hutch-med.com or connect with us on LinkedIn.
Frequently Asked Questions
1. Why are Mr. Carter and Mr. Jack retiring from HUTCHMED?
Both directors have decided not to seek re-election after serving more than eight years on the board.
2. Who will succeed Mr. Carter as Senior Independent Non-executive Director?
Professor Mok Shu Kam, Tony will be appointed as the new Senior and Lead Independent Non-executive Director.
3. What changes are being made to the board committees?
Changes include new appointments to the Audit and Remuneration Committees, with new chairpersons and members being introduced to enhance governance.
4. How has HUTCHMED performed in the biopharmaceutical field?
HUTCHMED is recognized for its innovative drug development, focusing on therapies for cancer and immune diseases, with several successful product launches globally.
5. How can investors contact HUTCHMED?
Investors can reach out via phone at +852 2121 8200 or email at ir@hutch-med.com.
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