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LONDON - HSBC Holdings plc (LSE:HSBA) announced Friday that Brendan Nelson will assume the role of Interim Group Chair effective October 1, 2025, as Sir Mark Tucker steps down from his position.
Nelson will receive an annual fee of £1.5 million in line with the Directors’ Remuneration Policy approved by shareholders at the 2025 Annual General Meeting, according to the company’s press release. He will not receive additional director fees for his other roles on HSBC’s boards during his tenure as Interim Group Chair.
The bank stated that Nelson and Tucker have completed a thorough handover process over recent months to ensure a smooth transition of responsibilities, meeting regulatory requirements.
The search for a permanent Group Chair, led by Ann Godbehere, Senior Independent Director, is ongoing. HSBC indicated it will provide further updates on the succession process in due course.
As previously disclosed, Sir Mark Tucker will remain as a strategic adviser to the Group CEO and the Board while the process to identify a permanent successor continues.
HSBC Holdings, headquartered in London, serves customers from offices in 57 countries and territories. The bank reported assets of $3,214 billion as of June 30, 2025.
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