REG - HSBC Holdings PLC - Group Chair Succession

HSBC HoldingsAnnouncement

06/06/2025 07:00

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RNS Number : 7285L  HSBC Holdings PLC  06 June 2025

 

6 June 2025

HSBC HOLDINGS PLC

GROUP CHAIR SUCCESSION

HSBC Holdings plc (the 'Company') today provides an update on the HSBC Group
Chairman succession process.

 

Further to the Company's announcement on 1 May 2025, in which it was confirmed
that Sir Mark Tucker intended to retire as Group Chairman before the end of
2025, it has now been agreed that Sir Mark will step down as HSBC Group
Chairman and as a member of the Board with effect from 30 September 2025.

 

The Company notes the announcement by AIA Group Limited ('AIA') confirming Sir
Mark's appointment as Independent Non-executive Chairman with effect from 1
October 2025.

 

The process to select the permanent HSBC Group Chair, led by Ann Godbehere,
Senior Independent Director, is ongoing. The Company will provide further
updates on this succession process in due course.

 

In the interim, whilst this process continues, Brendan Nelson, independent
non-executive Director and Chair of the Group Audit Committee, will assume the
role of Interim Group Chair upon Sir Mark's retirement from the Board, subject
to regulatory approval.

 

As previously announced, Sir Mark will remain as a strategic adviser to the
Group CEO and the Board whilst the process to identify his permanent successor
continues.

 

Ann Godbehere commented: "On behalf of the Board and the wider HSBC Group, I
wish to again reiterate our thanks to Mark for his leadership and stewardship
of the Bank over the past eight years. We wish him well in his new role at
AIA.

 

"The Nomination and Corporate Governance Committee continues to make progress
on the succession process for the next HSBC Group Chair. Our focus is on
securing the best candidate to lead the Board and wider Group over the next
phase of our growth and development.

 

Brendan's extensive experience on UK listed boards, and as Group Audit Chair,
makes him ideally placed to assume the role on an interim basis while the
process continues."

 

Brendan Nelson commented: "I am honoured to lead HSBC during this period of
transition, whilst the process to identify a permanent successor completes,
under Ann's experienced leadership."

 

The Company will provide confirmation of the fees which will be payable to
Brendan Nelson in this interim capacity in advance of the effective date of
appointment.

 

Save as disclosed in this announcement, there is no other information required
to be disclosed pursuant to UK Listing Rule 6.4.8 or Rule 13.51(2) of the
Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong
Limited.

 

For and on behalf of

HSBC Holdings plc

 

Aileen Taylor

Company Secretary

 

 

HSBC Holdings plc

Registered Office and Group Head Office:

8 Canada Square, London E14 5HQ, United Kingdom

Web: www.hsbc.com (http://www.hsbc.com/)

Incorporated in England and Wales with limited liability. Registration number
617987.

 

Supplementary Information

For the purposes of section 430(2B) of the Companies Act 2006, Sir Mark Tucker
will receive his Group Chairman fee through to his retirement at the end of
September 2025. He is not entitled to any payments for loss of office.

Brendan Nelson (age 75) currently serves as chairman of BP Pension Trustees
Limited and as a non-executive Director of HSBC UK Bank plc. He currently
holds 15,000 HSBC Holdings plc ordinary shares of US$0.50.

Professional qualifications: Institute of Chartered Accountants of Scotland,
1973

Current and past listed company appointments:

-      bp plc - Independent non-executive Director - November 2010 to May
2021

-      NatWest Group plc - Independent non-executive Director - April
2010 to April 2019

 

Board of Directors

The Board of Directors of HSBC Holdings plc as at the date of this
announcement comprises:

Sir Mark Edward Tucker*, Georges Bahjat Elhedery, Geraldine Joyce
Buckingham(†), Rachel Duan(†), Dame Carolyn Julie Fairbairn(†), James
Anthony Forese(†), Ann Frances Godbehere(†), Steven Craig
Guggenheimer(†), Manveen (Pam) Kaur, Dr José Antonio Meade Kuribreña(†),
Kalpana Jaisingh Morparia(†), Eileen K Murray(†), Brendan Robert
Nelson(†) and Swee Lian Teo(†).

*  Non-executive Group Chairman

(†)  Independent non-executive Director

 

HSBC Group

HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in
London. HSBC serves customers worldwide from offices in 58 countries and
territories. With assets of US$3,054bn at 31 March 2025, HSBC is one of the
world's largest banking and financial services organisations.

 

Media enquiries to:

Heidi Ashley          +44 (0) 7920 254057
heidi.ashley@hsbc.com

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