ADC Therapeutics shareholders approve all resolutions at annual general meeting

ADC Therapeutics SA (NYSE:ADCT), a commercial-stage biotechnology company leading the development of novel antibody drug conjugates (ADCs) to treat hematological malignancies and solid tumors, today announced that shareholders approved all of the resolutions as proposed by the Board of Directors at yesterday's Annual General Meeting (AGM).

Election of new Board member Viviane Monges

Shareholders approved the election of Viviane Monges to the board of directors. Ms. Monges has 30 years of executive-level financial leadership experience with global corporations, predominantly in the pharmaceutical industry. She is a veteran Chief Financial Officer (CFO) who has worked cross-functionally at both large and small companies deploying innovative strategies and building out finance teams.

Ms. Monges was CFO of the Business Excellence Division at Nestlé. Prior to that, she spent nearly two decades leading financial operations for divisions of three pharmaceutical companies. She served as Group CFO at Galderma S.A., a multinational dermatology company. Ms. Monges served at Novartis A/G as EMEA CFO and then as Global CFO of the OTC Division. At Wyeth Pharmaceuticals/Pfizer she served as CFO of the Europe Region unit and as CFO of the Global Pharma Business unit.

Ms. Monges provides financial and leadership counsel to companies as a board member of several innovative healthcare corporations, including DBV Technologies and Voluntis in France, UCB in Belgium, and Novo Holdings A/S in Denmark. Until May 2021, Ms. Monges also served on the board of Idorsia Pharmaceuticals.

Re-election of the Board and Compensation Committee

• Shareholders approved the re-election of Chairman of the Board Ron Squarer and all members of the Board who stood for re-election, for a term of one year.

• Shareholders approved the proposed compensation of the Board of Directors and the Executive Committee, for a term of one year.

• Shareholders approved an amendment to the Company’s Articles of Association to increase the maximum size of the Board of Directors to 12 members.

• Shareholders approved the re-election of all members of the Compensation Committee, each for a term of one year.

Other proposals

• All financial and capital proposals were approved including the increase and renewal of the Company’s Authorized Share Capital by CHF 1,170,800.

• Shareholders approved the re-election of the independent proxy and statutory auditor, each for a term of one year.