HSBC Group Chairman Sir Mark Tucker will step down before the end of 2025, the bank announced on Thursday.
HSBC Chairman to Retire Before the End of 2025
Tucker joined HSBC’s board in September 2017 and became Group Chairman the following month.
The bank noted in its press release that during his tenure, Tucker has overseen major strategic shifts, including the Group CEO succession and the bank’s navigation through the COVID-19 pandemic.
“It has been a great honour and privilege to lead HSBC as Chair,” Sir Mark said. “I am very confident that under Georges’ leadership, HSBC will go from strength to strength.”
The bank confirmed that its Nomination and Corporate Governance Committee has launched the process to find his successor. The search is being led by Senior Independent Director Ann Godbehere.
“He [Tucker] has provided strategic guidance and clarity to the management team, streamlined the Board and overseen material improvements to the Group’s people succession and governance processes,” said Godbehere. “He has also deepened the Group’s relationships with key clients, regulators and investors around the world.”
Tucker will continue to serve as a strategic adviser to Group CEO Georges Elhedery and the board during the transition period.
