Company: HBCYF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001089113-25-000040
Chunk: 404

Company: HSBC HOLDINGS PLC
Filing Date: 2025-02-20
Form: 20-F
Chunk 404
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 the Sustainability Working Group (’SWG’), it was agreed that Geraldine Buckingham would be appointed as its Chair. The Committee also reviewed the composition of the Board Committees, to ensure that it remains appropriate, with consideration given to the Board diversity and inclusion policy, and to ensure effective use of the skills and expertise of the Directors. Several changes to the Committees’ composition were agreed during the year. The Committee will continue to review the Committees’ composition to ensure that it remains appropriate. Board diversity The Board recognises the importance of gender, social and ethnic diversity, and the benefits that diverse identities and backgrounds bring to Board effectiveness. Representation is a consideration in succession plans and appointments at both Board and senior management level, as well as more broadly across the Group. The Committee also considers representation on Board Committees when reviewing their composition. At the end of 2024, the Board had 54% female representation, with seven female Board members out of a total of 13, which is above the year-end 2025 target set by the FTSE Women Leaders Review. Following Pam Kaur’s appointment as an Executive Director on 1 January 2025, female representation increased to 57%. The Board now also has two female leaders holding one of the four senior positions. These four senior roles, as defined by the FTSE Women Leaders Review, are Chair, Chief Executive Officer, Senior Independent Director and Chief Financial Officer. Beyond gender, the Committee remains focused on enhancing the ethnic heritage diversity of the Board, reflecting the international nature of our business and HSBC’s Asia heritage. The Board’s diversity and inclusion policy highlights our commitment to diversity, while providing specifics on the approach taken to achieving our relevant ambitions. Additional details on activities aimed at improving representation across senior management and the wider workforce, together with supporting statistics, can be found on page 62 . The Board’s diversity and inclusion policy is available at www.hsbc.com/who-we-are/our-people/board-of-directors/board- responsibilities

| HSBC Holdings plcAnnual Report on Form 20-F | 291 |

Group CEO succession Following the announcement on 30 April 2024 that Sir Noel Quinn would retire as Group CEO, the Committee oversaw a rigorous formal search, selection and appointment process to identify the next leader of the Group. A high-level overview of the process is shown in the graphic below. The Committee’s focus on Group CEO succession planning since Sir Noel Quinn’s appointment in 2020, supported its objective to complete the search at pace and provide clarity on future leadership to