XBiotech CEO John Simard retires; CSO Sushma Shivaswamy named interim CEO

XBiotech Inc.

John Simard retired as CEO/President effective Dec 8, 2025; continues as Chairman.
Sushma Shivaswamy, 47, appointed interim CEO effective Dec 8, remains CSO.
Shivaswamy's base salary increased to $750k while serving in dual roles.
Simard to provide consulting guidance per existing employment agreement; severance to be paid.
Board thanks Simard for 21 years; confident in Shivaswamy's leadership during interim period.

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