I-Mab announced that the board of directors of the company has appointed Mr. Wei Fu as the chairman of the board of directors. He succeeds Dr. Pamela M. Klein, who steps down from I-Mab's board of directors and the Interim Chairperson position. Mr. Wei Fu has served as a member of the I-Mab Board of Directors since June 2018 and is the Chief Executive Officer of CBC Group.

In addition, Mr. Raj Kannan intends to leave his role as a member of the company's board of directors, effective July 15, 2024. Mr. Kannan will stay as an advisor of the company until July 31, 2024 to assist with the transition. This decision follows a mutual agreement with the board of directors.

Dr. Sean Xi-Yong Fu has assumed the role of member of the board of directors, effective July 15, 2024. In addition to being Director of I-Mab, Dr. Sean Fu is also an Operating Partner of ABio-X. Before joining ABio-X, Dr. Fu was co-founder and CEO of RVAC Medicines. Prior to founding RVAC, Dr. Fu was Group VP and head of International R&D for Luye Pharma.

He was also the CEO of GeneLeap. Previously, Dr. Fu worked at Merck & Co. for 15 years with responsibilities covering R&D, business development, finance and operational management.

His work at Merck included management of the finances for the late-stage clinical portfolio and leading the integration of global R&D network following the landmark $42 billion merger between Merck and Schering-Plough. Dr. Fu earned a Master's and PhD degrees in materials science and engineering from Ohio State University, and an MBA from the Wharton School of University of Pennsylvania. In addition to these leadership transitions, the company also announced certain changes to the composition of the Board of Directors and its committees: the resignations of Dr. Ruyi He and Professor Rong Shao as Directors, and the appointments of Mr. Wei Fu and Mr. Conor Chia-hung Yang as new members of the compensation committee with Mr. Wei Fu being the Chairman thereof, and Mr. Sean Xi-Yong Fu as a new member of the ESG committee.

The company's audit committee will consist of Mr. Yang (Chairman), Mr. Au, and Mr. Chen. The Company's nominating and corporate governance committee consists of Mr. Wei Fu (Chairman), Mr. Au, and Mr. Yang. The compensation committee will consist of Mr. Wei Fu (Chairman), Mr. Au, and Mr. Yang, and the ESG committee will consist of Mr. Au (Chairman) and Mr. Sean Xi-Yong Fu.