HSBC Holdings plc has announced that Sir Mark Tucker intends to retire as Group Chairman before the end of 2025. Tucker joined the Board in September 2017 and assumed the Chairman role the following month. During his tenure, he guided the bank through several key transitions, including a global restructuring and the leadership handover to current Group CEO Georges Elhedery. The Board has begun the formal process to appoint a successor, led by Ann Godbehere, Senior Independent Non-Executive Director and Chair of the Nomination and Corporate Governance Committee.
In his retirement announcement, Tucker expressed, “It has been a great honour and privilege to lead HSBC as Chair. I am deeply grateful for the trust and support I have received from the Board, management, and colleagues and am very proud of all that we have accomplished together. With the strong foundations laid over the last eight plus years, I am very confident that under Georges’ leadership, HSBC will go from strength to strength.” Godbehere acknowledged Tucker’s contributions, including improved governance, strengthened relationships with stakeholders, and steady leadership during the COVID-19 crisis. She also confirmed that he will continue as a Strategic Adviser to the Group CEO and the Board during the transition period. HSBC will provide updates on the succession process in due course, as the Board continues its search for the most suitable candidate to lead the next phase of the bank’s development.
