HSBC Holdings plc has revealed that Rachel Duan was appointed as Independent non-executive Director of the Company, effective 1 September 2021. She will also be a member of the Group Remuneration Committee and the Nomination & Corporate Governance Committee.
As a seasoned business leader, Duan brings to the Board Asia and international leadership experience and business acumen. Most recently, she was Senior Vice President of General Electric (GE) and President & CEO of GE’s Global Markets, where she led GE’s growth in China, Asia Pacific, India, the Middle East, Africa, and Latin America. Duan is currently on the boards of AXA, since 2018, and Sanofi, since 2020, as an independent non-executive director.
Rachel is an exceptional candidate. I am absolutely delighted to welcome her to the Board. She has extensive knowledge and experience of operating in two of HSBC’s most strategically important markets – Hong Kong and mainland China. Her knowledge and experience will further strengthen the Board’s discussions and oversight.
In their decision to appoint Rachel Duan, the Directors determined that she is independent and that there are no other relationships or circumstances which are likely to affect her judgement.
HSBC further announced that Henri de Castries and Heidi Miller are planning to retire from the Board and do not intend to seek re-election at the Annual General Meeting of the Company, which will take place on 28 May 2021.
Miller will also step down as Chair of HSBC’s subsidiary HSBC North America Holdings Inc. and will hand over her responsibilities as Chair to Jamie Forese.
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