On October 24, 2023, John Kuch, Senior Vice President and Chief Financial Officer, notified Xencor, Inc. of his intention to retire from the Company effective March 31, 2024. Effective on April 9, 2024, Mr. Kuch will step down from his role as Chief Financial Officer of the Company. He will continue to be employed by the Company in a non-executive capacity and has agreed to enter into a consulting agreement with the Company at a later date.

The company announced the appointment of Bart Cornelissen, age 46, to chief financial officer. Mr. Cornelissen has more than 20 years of experience in corporate financial planning, analysis and transaction support. Before joining Xencor, he was most recently vice president, corporate finance at Seagen Inc., where he was instrumental in the company?s transformation into a global, multi-product organization that generated over $2 billion in annual revenue.

As vice president, corporate finance at Seagen, Mr. Cornelissen built and scaled the corporate finance organization to support tremendous revenue growth and dealmaking activity, including multiple licensing transactions and the company?s $43 billion acquisition by Pfizer in 2023. Before Seagen, while at the Bill & Melinda Gates Foundation, he served as vice president, finance for the END Fund, through which he enhanced the fund?s financial analysis and strategic decision-making capabilities. He had also been the Gates Foundation?s finance lead for malaria and neglected tropical disease initiatives, where he guided new investments for major drug and vaccine development partnerships.

Earlier in his career, Mr. Cornelissen provided leadership to multiple finance teams in Austria, Germany and Switzerland, at DSM Nutritional Products, a former division of Roche. He began his career within the life sciences and global health sectors at Novartis, in roles of increasing responsibility within global financial planning and analysis. Mr. Cornelissen received his M.Sc.

in Business Administration from the Rotterdam School of Management at Erasmus University.