Company: HBCYF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001089113-25-000040
Chunk: 437

Company: HSBC HOLDINGS PLC
Filing Date: 2025-02-20
Form: 20-F
Chunk 437
---
 in France. In October 2024, we announced a simplified organisational structure to accelerate delivery against our strategic priorities. We continue to strengthen our scale positions in Hong Kong and the UK and drive strong profit generation in these businesses. We remain focused on our goal to become a digital-first bank and have continued to see growth in customer adoption of our digital services across all our businesses, which is reflected in our Net Promoter Scores. Over 88% of colleagues participated in our 2024 Snapshot survey where our employee engagement index rose a further three percentage points to reach an all-time high of 80% , six percentage points above the global financial services benchmark.

| HSBC Holdings plcAnnual Report on Form 20-F | 313 |

Key remuneration decisions for executive Directors Executive Director changes Sir Noel Quinn stepped down as Group CEO and as an executive Director of the Board on 2 September 2024 and was succeeded by Georges Elhedery. Pam Kaur was appointed Group CFO from 1 January 2025. All remuneration decisions in respect of this change were made in accordance with our shareholder-approved policy. Given his retirement from the Group on 30 April 2025, Sir Noel Quinn will be treated as a good leaver for the purpose of unvested incentive awards. He remained eligible for a 2024 annual incentive but will not receive an LTI award for the 2025–2027 performance period, nor will he be eligible for a 2025 annual incentive. Annual incentive for 2024 performance Scorecards were set at the start of the year to align with our reported financial performance, excluding the impact of strategic transactions and one-offs on the Group's financial performance in 2024. Georges Elhedery's formulaic scorecard outcome of 78.79% (2023: 76.75% ) results in an annual incentive outcome of £1,677,000 (2023: £1,287,000 ). This was calculated by applying respective formulaic scorecard outcomes to the pro-rated maximum opportunities for the Group CEO and Group CFO roles, based on the period spent in each role during 2024. The formulaic scorecard outcome for Sir Noel Quinn was 77.81% (2023: 75.93% pre risk adjustment, 70.24% post risk adjustment), which results in an annual incentive outcome of £1,540,000 (2023: £2,018,000 ), after pro-rating for his time as Group CEO during 202