REG - Jardine Matheson Hdg DFI Retail Group - Directorate Change

Jardine Matheson HoldingsAnnouncement

29/05/2025 10:30

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RNS Number : 6120K  Jardine Matheson Hldgs Ltd  29 May 2025

29 May 2025

For immediate release

The following announcement was issued today to a Regulatory Information
Service approved by the Financial Conduct Authority in the United Kingdom.

 

Jardine Matheson Holdings Limited

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

Lincoln Pan appointed Chief Executive Officer with effect from 1 December
2025, succeeding John Witt

Jardine Matheson Holdings Limited (the 'Company' or the 'Group') announces
today that it has appointed Lincoln Pan as Chief Executive Officer with effect
from 1 December 2025, succeeding John Witt who will retire from the Company at
the end of November.

Lincoln will join from PAG, the largest fully diversified alternative
investment business in the Asia Pacific region, where he is a Partner and
co-head of Private Equity and a member of the Group Executive Committee. He
previously held the role of Chief Executive Officer, Greater China at Willis
Towers Watson, served in executive roles at Advantage Partners and GE Capital,
and worked at McKinsey & Company.

Ben Keswick, Executive Chairman, said: "The Board is delighted to appoint
Lincoln as Chief Executive Officer. Lincoln's wealth of investment experience
in the Asia Pacific region and track record of working with company boards and
management teams makes him extremely well-placed to lead Jardines and to
implement our strategy to build bigger, better businesses over the long-term.

"Jardines has changed a lot since we simplified the holding company structure
into a more efficient and investor-friendly Group. We have been on an ongoing
transition away from our historical owner-operator model, towards becoming an
engaged investor with a sharpened focus on generating superior, long-term
returns for shareholders.

"On behalf of the Board, I would like to thank John for his enormous
contribution to the Group over the past 32 years. As Group Managing Director
since 2020, he ably led Jardines through a challenging period, including
navigating the global pandemic. His key achievements include implementing
impactful leadership succession in our key portfolio companies and overseeing
the simplification of our corporate structure which has put us in a strong
position as we transition into this next stage. I am delighted that John will
continue to serve as Chairman of Hongkong Land, where he has been instrumental
in supporting Michael Smith, Hongkong Land's CEO, develop and deliver on its
new strategy."

John Witt, Group Managing Director, said: "It has been an exceptional
opportunity to have served the Jardine Matheson Group for more than three
decades. Jardines is defined by its culture of integrity and long-term
perspective, and I am proud to have contributed to its success. We have
implemented some important changes to modernise the Group and ensure we are
well placed to capture the opportunities ahead. Now is the right time to hand
over to new leadership and I am confident Lincoln's strong investment
experience and cultural alignment makes him an excellent choice to lead the
business in this next chapter."

Commenting on his appointment, Lincoln Pan said, "It is an honour to serve as
Jardine Matheson's Chief Executive Officer as we execute on an exciting
strategic evolution of the business. We have ambitious financial objectives to
drive shareholder returns and I look forward to working with our Board to
deliver for all shareholders, while preserving Jardines' long-term approach
and unique culture.

"It has been a privilege to work at PAG, the leading alternatives platform in
Asia, and leaving the firm was an incredibly difficult decision. I want to
thank Weijian Shan, Chris Gradel and all my partners for their support and
wish them the greatest success going forward."

John Witt will continue to serve as Chairman of Hongkong Land. He will retire
from his positions at Jardine Matheson Holdings Limited (including his
positions at Jardine Matheson Limited and Jardine Pacific), DFI Retail,
Jardine Cycle & Carriage and Astra with effect from 30 November 2025.

In connection with the above appointment, the Company advises that Lincoln Pan
has held directorships in the following listed companies in the past five
years:

Cushman & Wakefield plc

Regional Express Holdings Limited

 

********

 

Jardine Matheson
Jardine Matheson is a diversified, Asia-focused investment company. Founded in
China in 1832, Jardines' long-term success has been driven by our adaptability
and resilience. Our aim is to deliver superior, long-term returns for
Jardines' shareholders from a portfolio of market-leading businesses, each of
which is strategically positioned to capture growth opportunities driven by
themes such as urbanisation and the expanding middle-income population across
Asia.

Jardine Matheson Holdings Limited is incorporated in Bermuda and has a primary
listing in the equity shares (transition) category of the London Stock
Exchange, with secondary listings in Bermuda and Singapore.

 

- end -

 

For further information, please contact:

Jardine Matheson

Harry
Thompson
                        (852) 9107 9370

Brunswick Group

William
Brocklehurst
(852) 5685 9881

This and other Group announcements can be accessed online at www.jardines.com.

 

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