The Board of Directors of The Hongkong and Shanghai Hotels, Limited announced Mr. Clement King Man Kwok (Mr. Kwok) will be stepping down as the Managing Director of the company with effect from 31 October 2024 but will remain on the Board as an Executive Director and Advisor to the CEO until the conclusion of the Annual General Meeting of 2025. Mr. Peter Camille Borer (Mr. Borer) will be stepping down as an Executive Director and the Chief Operating Officer of the company with effect from 31 July 2024 and will be re-designated as a Non-Executive Director of the Company and will become a Senior Advisor to the Chairman for a term of two years with effect from 1 August 2024; and Mr. Gareth Owen Roberts (Mr. Roberts) will succeed Mr. Borer as an Executive Director and the Chief Operating Officer of the Company with effect from 1 August 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. Mr. Borer was appointed to the Board as the Chief Operating Officer of the Company since April 2004. After serving on the Board for 19 years, Mr. Borer has decided to step down as an Executive Director and the Chief Operating Officer of the Company with effect from 31 July 2024. He will be redesignated as a Non-Executive Director of the Company and will become a Senior Advisor to the Chairman for a term of two years with effect from 1 August 2024. Mr. Borer will resign as Directors from all other group's entities. Mr. Borer joined the group in 1981 and has been responsible for developing the group's high standards of customer service and operational excellence. Following various operational roles, he was appointed General Manager of The Peninsula Hong Kong in 1994, taking on additional regional responsibility for the group's Asia hotel portfolio in 1999. Mr. Borer was appointed as an Executive Director and the Chief Operating Officer in April 2004 and oversees the operations of the group's assets globally. Mr. Borer is a graduate of Ecole hôtelière de Lausanne, Switzerland. In 2019, he was recognised with a Lifetime Achievement Award from the Alumni Network of Ecole hôtelière de Lausanne. He is also a member of the Advisory Board of the School of Hotel and Tourism Management of The Chinese University of Hong Kong and a member of Advisory Council of Gleneagles Hospital Hong Kong. He is 70 years old. Mr. Roberts will succeed Mr. Borer as an Executive Director and the Chief Operating Officer of the Company with effect from 1 August 2024. Mr. Roberts has over 21 years of experience in the hotel industry. He joined the group in 2002 at The Peninsula Beverly Hills and later became Resident Manager in 2011. Mr. Roberts relocated to China in 2013 as Hotel Manager of The Peninsula Shanghai. In 2015, he transferred to Head Office where he was promoted to Group General Manager, Operations Planning and Support in November 2016. Mr. Roberts further expanded his role as Group Director, Brand and Operations Support, and was appointed as a Group Management Board member in 2020. He is responsible for overseeing sales and marketing, branding, guest experience and operations for both existing and new hotel developments for The Peninsula Hotels. In addition, he oversees Peninsula Merchandising Limited, which comprises The Peninsula Boutique retail business. He is a Director of several of the group's entities. Mr. Roberts holds a Bachelor of Science in Hotel Administration from University of Nevada,
Las Vegas. He is 42 years old. Mr. Roberts has not held any directorships in any listed companies in Hong Kong or overseas in the last three years. As at the date of this announcement, Mr. Roberts does not have any interest in the shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance nor any relationship with any Directors, members of senior management or substantial or controlling shareholders of the Company. Mr. Roberts is subject to retirement and re-election by the shareholders of the Company at the 2025 AGM, according to the Articles of Association of the Company.