HSBC Holdings (0005) confirmed on Friday that Brendan Nelson will be appointed as Interim group chairman, effective October 1, 2025.
This follows the scheduled retirement of the current group chairman, Mark Tucker, on September 30 this year. Tucker will subsequently return to AIA Group (1299) as its non-executive hairman.
As announced on June 6, Nelson will receive an annual fee of £1.5 million (HK$15.57 million), in line with the director remuneration policy to be approved by shareholders at the 2025 Annual General Meeting.
He will not receive additional fees for his other board roles at HSBC or its subsidiary, HSBC UK Bank, during his term as interim chairman.
HSBC stated that Nelson and Tucker have been conducting a thorough handover process in recent months to ensure a smooth transition.
The process to select a permanent group chairman, led by senior independent director Ann Godbehere, is ongoing, with updates to be provided in due course.
Mark Tucker will continue to serve as a strategic adviser to the group chief executive and the board during the permanent succession process.
