The Board of Directors (the "Board") of The Hongkong and Shanghai Hotels, Limited announced Mr. Clement King Man Kwok ("Mr Kwok") will be stepping down as Chief Executive Officer of the Company with effect from 31 October 2024. Mr. Kwok was appointed to the Board as the Managing Director and Chief Executive Officer of the Company in February 2002. After having served on the Company's Board for over two decades, Mr. Kwok has decided to step down from the Board and retire.

He will be stepping down as the Managing Director and Chief Executive Officer of the Company with effect from 31 October 2024. As part of the transition, he will remain on the Board as an Executive Director and Advisor to the CEO until the conclusion of the 2025 AGM, which is expected to be held in May 2025.