HUTCHMED announces retirement of Chairman, appointment of new Chairman and change of members of board committees

HONG KONG and SHANGHAI and FLORHAM PARK, N.J., May 17, 2024 (GLOBE NEWSWIRE) -- HUTCHMED (China) Limited (“HUTCHMED” or the “Company”) (Nasdaq/AIM:​HCM, HKEX:​13) today announces:-

(a) the retirement of Mr Simon To from the position as Chairman and Executive Director, after 23 years with the Company; and

(b) the appointment of Dr Dan Eldar as the new Chairman.

Dr Eldar has been a Non-executive Director of the Company since 2016. He has more than 30 years of experience as a senior executive, leading global operations in biotechnology, healthcare, telecommunications and water. He is an executive director of Hutchison Water Israel E.P.C Ltd, an associate of CK Hutchison group, which focuses on large scale desalination and hydro-electric projects.

Dr Eldar received a Doctor of Philosophy degree in Government from Harvard University, Master of Arts degree in Government from Harvard University, Master of Arts degree in Political Science and Public Administration from the Hebrew University of Jerusalem and a Bachelor of Arts degree in Political Science from the Hebrew University of Jerusalem.

Mr Simon To, retiring Chairman of HUTCHMED, said “After nearly a quarter of a century with HUTCHMED, I have decided to retire to attend to my personal affairs and address my health issues, which will enable me to spend more cherished time with my family. It has been an absolute privilege to lead such an exceptional team and to be a part of HUTCHMED’s journey to becoming a commercial-stage biopharmaceutical company.”

“I am confident that Dr Eldar’s appointment will further strengthen HUTCHMED’s position as a pioneer in the development of novel therapies for oncology and autoimmune diseases. We look forward to his leadership and contributions to the Company’s continued success.”

The appointment of Dr Eldar as Chairman will take effect on May 17, 2024. He will remain as a Non-executive Director of the Company. Additionally, from the same date, Mr To will cease his membership of the Nomination Committee, Remuneration Committee, and Technical Committee of the Company, with Dr Eldar being appointed as a member of the Nomination Committee and Technical Committee in his place and Ms Edith Shih, Non-executive Director, being appointed as a member of the Remuneration Committee in his place.