A search for Tucker's successor is being led by Ann Godbehere, HSBC's senior independent director, as the bank looks to replace its departing chairman within the next seven months. "The board is conducting a thorough process to identify the best candidate" and "support group CEO, Georges Elhedery, and the wider management team, through the next period of development and growth for the bank," Godbehere said.
HSBC Holdings Plc's chairman Mark Tucker said he would stand down by the end of the year after a turbulent eight-year tenure that has seen him oversee three changes of CEO, a clash with one of the bank's largest shareholders, and a public slapdown from the US government.
Tucker said "strong foundations" had been laid for Europe's largest bank to grow since he took over as chairman in 2017 and that he expected the business to go from "strength to strength" over the coming years, according to a statement.
