REG - Hutchmed China Ltd - Directorate Change

HUTCHMED (China)Announcement

26/08/2025 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250826:nRSZ5189Wa&default-theme=true

RNS Number : 5189W  Hutchmed (China) Limited  26 August 2025

 

 

 

HUTCHMED Announces Appointment of Acting Chief Executive Officer

 

Hong Kong, Shanghai & Florham Park, NJ - Monday, August 25, 2025:
HUTCHMED (China) Limited ("HUTCHMED (https://www.hutch-med.com/) ")
(Nasdaq/AIM:HCM; HKEX:13) today announces that Dr Weiguo Su, an Executive
Director of the Company, will take a leave of absence from his duties as Chief
Executive Officer due to health reasons. In light of this, the Board of
Directors has appointed Mr Johnny Cheng, an Executive Director and Chief
Financial Officer of the Company, as Acting Chief Executive Officer with
immediate effect, in addition to his role as Chief Financial Officer.

 

Dr Dan Eldar, Chairman and Non-executive Director, said, "The Board expresses
its full support for Dr Su and wishes him a speedy recovery. We thank Mr Cheng
for his agreement to assume responsibility for overseeing the day-to-day
operations and management of the Company during this interim period. The board
has full confidence in Mr. Cheng's capabilities to lead the Company. The Board
is confident that all research, development and commercial initiatives will
remain on track."

 

Dr Weiguo Su, Executive Director, said, "This has been a very difficult
decision to make, but at this time my focus must be on my health. I am certain
that the Board, Mr Cheng and everyone at HUTCHMED will ensure the continued
execution of our strategy and that the scientific team will continue its work
on the determined drug research and discovery pipeline as planned. I would
like to thank everyone for their support and look forward to being able to
return to work as soon as possible."

 

Mr Johnny Cheng, Acting Chief Executive Officer and Chief Financial Officer,
said, "Over the last 20 years under Dr Su's leadership and the contribution of
the entire team, HUTCHMED has built a portfolio of drugs and a strategy to
successfully build new platforms and capabilities to deliver additional value.
Together with our management team we shall endeavor to ensure on-track
delivery. My best wishes to Dr Su for a speedy recovery."

 

 

About HUTCHMED

HUTCHMED (Nasdaq/AIM:HCM; HKEX:13) is an innovative, commercial-stage,
biopharmaceutical company. It is committed to the discovery and global
development and commercialization of targeted therapies and immunotherapies
for the treatment of cancer and immunological diseases. Since inception it has
focused on bringing drug candidates from in-house discovery to patients around
the world, with its first three medicines marketed in China, the first of
which is also approved around the world including in the US, Europe and Japan.
For more information, please visit: www.hutch‑med.com
(https://www.hutch-med.com/) or follow us on LinkedIn
(https://www.linkedin.com/company/hutchmed/) .

 

 

Forward-Looking Statements

This announcement contains forward-looking statements within the meaning of
the "safe harbor" provisions of the U.S. Private Securities Litigation Reform
Act of 1995. These forward-looking statements reflect HUTCHMED's current
expectations regarding future events. Forward-looking statements involve risks
and uncertainties. Such risks and uncertainties include, among other things,
the risk that current or future appointees to HUTCHMED's board of directors
are not effective in their respective positions, the difficulty in locating
and recruiting suitable candidates for its board of directors and the
management difficulties which may arise from changes in HUTCHMED's board of
directors. Existing and prospective investors are cautioned not to place undue
reliance on these forward-looking statements, which speak only as of the date
hereof. For further discussion of these and other risks, see HUTCHMED's
filings with the U.S. Securities and Exchange Commission, on AІM and with The
Stock Exchange of Hong Kong Limited. HUTCHMED undertakes no obligation to
update or revise the information contained in this announcement, whether as a
result of new information, future events or circumstances or otherwise.

 

Inside Information

This announcement contains inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 (as it forms part of retained EU law as defined in
the European Union (Withdrawal) Act 2018).

 

Disclosure pursuant to the requirements of Rule 13.51(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited

Mr Cheng, aged 58, has been an Executive Director since 2011 and Chief
Financial Officer of the Company since 2008. He is a member of the
Sustainability Committee of the Company. Prior to joining the Company, Mr
Cheng was vice president, finance of Bristol Myers Squibb in China and was a
director of Sino-American Shanghai Squibb Pharmaceuticals Ltd. and
Bristol-Myers Squibb (China) Investment Co. Ltd. in Shanghai between late 2006
and 2008. Mr Cheng started his career as an auditor with Price Waterhouse
(currently PricewaterhouseCoopers) in Australia and then KPMG in Beijing
before spending eight years with Nestlé China where he was in charge of a
number of finance and control functions in various operations. Mr Cheng
received a Bachelor of Economics, Accounting Major from the University of
Adelaide and is an associate of Chartered Accountants Australia and New
Zealand. Mr Cheng 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, Mr Cheng had a personal interest in
2,936,430 ordinary shares of the Company ("Shares"), representing
approximately 0.34% of the issued Shares, within the meaning of Part XV of the
Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong). The
term of Mr Cheng's service as an Executive Director of the Company is subject
to retirement by rotation and re-election at the annual general meeting of the
Company in accordance with the provisions of the Articles of Association. The
director's fees of Mr Cheng as an Executive Director and a member of the
Sustainability Committee of the Company under his appointment letter are
US$70,000 and US$5,000 per annum respectively. The emoluments specified in the
service agreement appointing Mr Cheng as Chief Financial Officer of the
Company are US$490,513 per annum in salary and discretionary bonus which the
Company may decide to pay. There will also be equity compensation of up to
US$779,934 per annum. Such emoluments are determined by reference to the
performance and profitability of the Company as well as his personal
performance, remuneration benchmark in the industry and the prevailing market
conditions. Such fees are subject to review from time to time and proration
for an incomplete year of service. Save as disclosed above, there are no other
matters concerning Mr Cheng that are required to be brought to the attention
of the shareholders, nor is there other information that is required to be
disclosed pursuant to the requirements of Rule 13.51(2) of the Rules Governing
the Listing of Securities on The Stock Exchange of Hong Kong Limited.

 

CONTACTS
 Investor Enquiries                                  +852 2121 8200 / ir@hutch-med.com (mailto:ir@hutch-med.com)

 Media Enquiries
 FTI Consulting -                                    +44 20 3727 1030 / HUTCHMED@fticonsulting.com
                                                     (mailto:HUTCHMED@fticonsulting.com)
    Ben Atwell / Alex Shaw                              +44 7771 913 902 (Mobile) / +44 7779 545 055 (Mobile)
 Brunswick - Zhou Yi                                 +852 9783 6894 (Mobile) / HUTCHMED@brunswickgroup.com
                                                     (mailto:HUTCHMED@brunswickgroup.com)

 Panmure Liberum                                     Nominated Advisor and Joint Broker
 Atholl Tweedie / Emma Earl / Rupert Dearden         +44 20 7886 2500

 Cavendish                                           Joint Broker
 Geoff Nash / Nigel Birks                            +44 20 7220 0500

 Deutsche Numis                                      Joint Broker
 Freddie Barnfield / Jeffrey Wong / Duncan Monteith  +44 20 7260 1000

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  BOADXGDIDDDDGUS