HSBC Holdings plc has announced updates regarding the succession of its Group Chairman. Sir Mark Tucker, who previously confirmed his intention to retire by the end of 2025, will step down from his role as Group Chairman and Board member on September 30, 2025. Following this, he will take on a new position as Independent Non-executive Chairman at AIA Group Limited starting October 1, 2025.
The search for a permanent successor is being led by Ann Godbehere, Senior Independent Director. Until a new chair is appointed, Brendan Nelson will serve as Interim Group Chair after Sir Mark's departure. His appointment is pending regulatory approval.
Sir Mark will continue to act as a strategic adviser to the Group CEO and Board during the transition period. Ann Godbehere expressed gratitude for Sir Mark's leadership over the past eight years and wished him success in his future role at AIA. She stated that "the Nomination and Corporate Governance Committee continues to make progress on the succession process for the next HSBC Group Chair."
Brendan Nelson remarked on his interim appointment: “I am honoured to lead HSBC during this period of transition.” The company plans to disclose details about Nelson's compensation in this interim role before his official start date.
No additional information requires disclosure under UK Listing Rule 6.4.8 or Rule 13.51(2) of Hong Kong’s listing rules.
Sir Mark Tucker will receive his chairman fee until retirement but no payments for loss of office are due. Brendan Nelson holds positions with BP Pension Trustees Limited and HSBC UK Bank plc and owns shares in HSBC Holdings plc.
The current Board includes Sir Mark Edward Tucker as Non-executive Group Chairman along with several independent non-executive directors such as Georges Bahjat Elhedery and Ann Frances Godbehere among others.
For further media inquiries, contact Aman Ullah in Hong Kong or Gillian James and Heidi Ashley in London.
HSBC Holdings plc is headquartered in London with operations across 58 countries, managing assets worth US$3,054 billion as of March 31, 2025.