HSBC Holdings plc today provided an update on the HSBC Group Chairman succession process.

On 1 May 2025, HSBC confirmed that Sir Mark Tucker intended to retire as Group Chairman before the end of 2025. It has now been agreed that Sir Mark will step down as HSBC Group Chairman and as a member of the Board with effect from 30 September 2025.

The Company notes the announcement by AIA Group Limited confirming Sir Mark’s appointment as Independent Non-executive Chairman with effect from 1 October 2025.

The process to select the permanent HSBC Group Chair, led by Ann Godbehere, Senior Independent Director, is ongoing. The Company will provide further updates on this succession process in due course.

In the interim, whilst this process continues, Brendan Nelson, independent non-executive Director and Chair of the Group Audit Committee, will assume the role of Interim Group Chair upon Sir Mark’s retirement from the Board, subject to regulatory approval.

Sir Mark will remain as a strategic adviser to the Group CEO and the Board whilst the process to identify his permanent successor continues.

Ann Godbehere commented:

“Brendan’s extensive experience on UK listed boards, and as Group Audit Chair, makes him ideally placed to assume the role on an interim basis while the process continues.”

Brendan Nelson commented:

“I am honoured to lead HSBC during this period of transition, whilst the process to identify a permanent successor completes, under Ann’s experienced leadership.”