Company: HBCYF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001089113-25-000040
Chunk: 407

Company: HSBC HOLDINGS PLC
Filing Date: 2025-02-20
Form: 20-F
Chunk 407
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 framework, the Committee continued to oversee the corporate governance and succession arrangements across the principal subsidiary portfolio. Additional details on the subsidiary accountability framework are set out on page 277 . Given the improvement in quality of the succession planning updates over the previous years, the Committee agreed that, for 2024, the material subsidiary plans no longer required direct oversight. Principal Subsidiaries continued to oversee plans for their respective subsidiaries, with the Committee retaining the ability to review material subsidiary succession plans, where necessary. The Committee continued to support and seek opportunities to enhance subsidiary connectivity. That included leveraging the Chairman’s Forum and Remuneration Committee Chairs’ Forum, which regularly brought together the chairs of the principal subsidiaries to discuss issues of common interest. In order to further strengthen connectivity between the Board and the most significant subsidiary boards, the Committee took relevant steps with two of the principal UK regulated entities. It recommended that Ann Godbehere be appointed to the HSBC Bank plc board and Brendan Nelson be appointed to the HSBC UK Bank plc board. Given that the Board has benefitted from James Forese’s leadership of the HSBC North America Holdings Inc. Board, the Committee is confident that these appointments will enhance governance arrangements and connectivity. The committee continues to provide support and look for opportunities to enhance subsidiary connectivity through non- executive Director events and other engagement forums. The Group’s flagship events held in 2024 included the Bank Director Programme and the Bank Chair Programme. The Group Chairman also hosted an annual Global NED Update, which was attended by over 200 subsidiary non-executive Directors.

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| Board composition and succession                                     |     |     |     |     |     |     |     |     |     |
| Board composition, including succession planning and skills matrices | u   | u   | u   | u   | u   | u   | u   | u   | u   |
| Executive talent and development                                     |     |     |     |     |     |     |     |     |     |
| Senior executive succession and appointments                         | u   | u   | u   | u   | u   | u   | u   | u   | u   |
| Governance                                                           |     |     |     |     |     |     |     |     |     |
| Board and corporate governance developments                          | u   | u   | u   | u   | u   | u   | u   | u   |