EC Healthcare Announced that Mr. Tang Chi Fai Eddy has resigned as chief executive officer of the Company with effect from 1 November 2023 due to the wish to enable the Company to fully comply with code provision C.2.1 of the Corporate Governance Code of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited, which states that the roles of chairman and chief executive should be separate and should not be performed by the same individual. Mr. Tang has confirmed that he has no disagreement with the Board and there is no matter in relation to his resignation as chief executive officer of the Company that needs to be brought to the attention of The Stock Exchange of Hong Kong Limited or the holders of securities of the Company. Mr. Tang will continue to be the Chairman of the Board and an executive Director.

Mr. Lu Lyn Wade Leslie, an executive director and the co-chief executive officer of the Company, is re-designated as the chief executive officer of the Company with effect from 1 November 2023. Mr. Lu, aged 44, joined the Group in August 2021 and is an executive director and was the co-chief executive officer of the Company. He focuses on Group's high level strategy, systems building, implementation and cultural alignment.

Mr. Lu is a seasoned corporate executive with 22 years of management experience across multiple industry verticals. Mr. Lu worked in Sun Hung Kai Real Estate Agency Limited as Deputy Chief Digital Officer. Before that, Mr. Lu was an executive at Cathay Pacific Airways Limited during 2001-2007 & 2008-2020.

His roles include General Manager Digital, General Manager Product, managerial positions in airline planning, cargo, flight operations, customer relationship management as well as oversea station at Thailand, Vietnam and United States. Mr. Lu graduated from The Hong Kong University of Science and Technology ("HKUST") with a Bachelor's degree in Civil Engineering in 2001 and a master's degree in Global Finance in 2009 from New York University and HKUST. Mr. Lu has entered into a service agreement with the Company on 23 August 2021 as an executive director and the co-chief executive officer of the Company for a term of 3 years commencing on 23 August 2021.

A supplemental agreement has been entered into between Mr. Lu and the Company on 1 November 2023, pursuant to which Mr. Lu is re-designated as chief executive officer of the Company. Pursuant to the service agreement (as amended), the remuneration of Mr. Lu shall remain unchanged at HKD 400,000 per month plus other discretionary bonus and share options as may be determined by the Board and other terms of appointment shall also remain unchanged. His remuneration package is determined by the Board based on the recommendation of the remuneration committee of the Company, taking into account the salaries paid by comparable companies, time commitment, duties and responsibilities of Mr. Lu, the Company's performance and profitability, the remuneration policy and prevailing market rate.

As at the date of this announcement, Mr. Lu holds 10,000,000 share options in the Company.