HUTCHMED (China) Limited announced the retirement of Mr. Simon To from the position as Chairman and Executive Director, after 23 years with the Company; and 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. 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. The Board has requested and Mr. To has agreed to serve as Strategic Advisor of the Company and in that capacity to continue to contribute to the Company on significant matters.

Dr. Eldar, aged 70, is a director of certain companies controlled by substantial shareholders (for the purpose of Part XV of the Securities and Futures Ordinance) of the Company. Save as disclosed above, Dr. Eldar does not have any relationship with any other Directors, senior management, substantial or controlling shareholders of the Company. As at the date of this announcement, Dr. Eldar had a personal interest in 150,660 ordinary shares in the Company ("Shares"), representing approximately 0.02% of the number of Shares in issue, within the meaning of Part XV of the Securities and Futures Ordinance.

The term of Dr. Eldar's service as a Non-executive Director of the Company is subject to retirement by rotation and re-election at the annual general meeting of the Company. The director's fees of Dr. Eldar as the Chairman and a member of the Nomination Committee and Technical Committee of the Company under his appointment letter are US$70,000, US$5,000 and US$5,000 per annum respectively. Such amounts are subject to review from time to time and proration for an incomplete year of service.