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LONDON - HSBC Holdings plc (NYSE:HSBC) has confirmed that Sir Mark Tucker will retire as Group Chairman and as a member of the Board on September 30, 2025. The announcement follows a previous statement on May 1, 2025, in which Sir Mark’s intention to retire before year’s end was made public. Concurrently, AIA Group (OTC:AAGIY) Limited has announced Sir Mark’s appointment as Independent (LON:IOG) Non-executive Chairman effective October 1, 2025.
The search for a permanent successor is led by Ann Godbehere, Senior Independent Director at HSBC, and is currently in progress. The company will provide updates on this succession process at a later stage.
Brendan Nelson, an independent non-executive Director and Chair of the Group Audit Committee, will take over as Interim Group Chair following Sir Mark’s departure, pending regulatory approval. Nelson brings extensive experience from UK listed boards to the interim role, ensuring leadership continuity during the transition.
Sir Mark will continue to serve as a strategic adviser to the Group CEO and the Board while his permanent successor is being identified. In a statement, Ann Godbehere expressed gratitude for Sir Mark’s leadership over the past eight years and wished him well in his new role at AIA.
The company will announce the fees payable to Brendan Nelson for his interim role prior to his appointment date. No further details requiring disclosure under UK Listing Rules or the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited have been provided.
Brendan Nelson, aged 75, is also chairman of BP (NYSE:BP) Pension Trustees Limited and a non-executive Director of HSBC UK Bank plc. His professional qualifications include being a member of the Institute of Chartered Accountants of Scotland since 1973. Nelson’s past listed company appointments include roles at bp plc and NatWest Group plc.
HSBC Holdings plc, headquartered in London, is the parent company of the HSBC Group, one of the world’s largest banking and financial services organizations. As of March 31, 2025, HSBC reported assets of US$3,054bn and operates from offices in 58 countries and territories.
This article is based on a press release statement.
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