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HONG KONG - Hutchmed (China) Limited (NASDAQ/AIM:HCM, HKEX:13), a biopharmaceutical company, today disclosed the upcoming retirement of two of its Independent (LON:IOG) Non-executive Directors, Mr Paul Rutherford Carter and Mr Graeme Allan Jack. Both directors will step down following the company’s annual general meeting (AGM) scheduled for May 13, 2025.
Mr Carter, who has served as the Senior Independent Non-executive Director and chairman of the Remuneration Committee, and Mr Jack, chairman of the Audit Committee, have been on the Hutchmed board for over eight years. Their departure will coincide with the conclusion of the AGM, where they have chosen not to seek re-election.
In anticipation of the retirements, Hutchmed’s Board has approved several changes to its board committee composition, effective from the AGM’s conclusion, contingent upon the re-election of the respective directors by shareholders. Professor Mok Shu Kam, Tony, will assume the role of Senior and Lead Independent Non-executive Director. Mr Wong Tak Wai is set to become the chairman of the Audit Committee and a member of the Remuneration Committee. Dr Chaohong Hu will join the Audit Committee, and Dr Renu Bhatia will take over as chairman of the Remuneration Committee. All appointees currently serve as Independent Non-executive Directors of Hutchmed.
Dr Dan Eldar, Chairman of Hutchmed, expressed gratitude for the contributions of Mr Carter and Mr Jack, highlighting their roles in shaping company policies and maintaining high standards of financial integrity and transparency. Both directors have confirmed that there is no disagreement with the Board and no other matters requiring shareholder attention in connection with their retirement.
Hutchmed is known for its focus on developing targeted therapies and immunotherapies for cancer and immunological diseases, with several medicines marketed in China and one approved globally, including in the US, Europe, and Japan.
The information for this article is based on a press release statement from Hutchmed.
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