HSBC Chair Announces Retirement, Succession Process Kicks Off
The chairman of UK-headquartered HSBC will retire after holding the role for eight years.
Mark Tucker has advised HSBC's board of his intention to retire as group chairman before the end of 2025, according to a statement. He first joined the bank’s board in September 2017 and assumed the chairman role one month later.
«It has been a great honor 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,» commented Tucker.
«With the strong foundations laid over the last eight-plus years, I am very confident that under [group CEO Georges Elhedery's] leadership, HSBC will go from strength to strength. I wish HSBC and all its stakeholders continued success and prosperity.»
Succession Process
The board’s nomination and corporate governance committee has commenced a process to select Tucker’s successor as chairman. Senior independent non-executive director Ann Godbehere will lead the process.
Meanwhile, Tucker will remain as a strategic adviser to Elhedery and the board while the succession process continues. An update on the group chairman role will be provided in due course.
40-Year Veteran
Tucker has four decades of financial services experience in Asia, US, UK and Africa, including 30 years based in Hong Kong. Prior to HSBC, he held various leadership roles including group chief executive and president of AIA as well as group chief executive of Prudential.
He also served on the court of the Bank of England and various boards and advisory groups, including those providing advice to the mayor of Beijing, the mayor of Shanghai, the Hong Kong chief executive and Saudi Arabia.
According to his profile on HSBC, Tucker is married with two children and is passionate about football, having made appearances as a trainee professional Wolverhampton Wanderers, Rochdale and Barnet.
