Company: HBCYF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001089113-25-000040
Chunk: 406

Company: HSBC HOLDINGS PLC
Filing Date: 2025-02-20
Form: 20-F
Chunk 406
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 this plan and receives regular updates on progress. Senior executive succession and development Jonathan Bingham, Global Financial Controller, was appointed as Interim Group CFO with effect from 2 September 2024. This interim appointment allowed Georges to focus on his new responsibilities as Group CEO, whilst the process to identify a permanent successor was conducted. The process to select the permanent Group CFO was led by the Group CEO, with the support of the Group Chief People & Governance Officer and a leading external search firm. Consistent with the approach taken for the selection of Georges Elhedery as Group CEO, internal and external candidates were considered and assessed against the agreed role profile and selection criteria. Following the completion of interviews with members of the Board, Pam Kaur was selected to join the Board as an Executive Director and Group CFO. Following Pam’s selection for the role of Group CFO, Richard Blackburn, Global Head of Traded and Treasury Risk Management & Global Head of Risk Analytics, was appointed as Interim Group Chief Risk and Compliance Officer with effect from 1 January 2025. An update on permanent succession for this position will be provided in due course. In conjunction with the announcement on the new, simpler organisational structure, designed to unleash the full potential of HSBC, the Committee also approved several changes to the senior leadership team, based on the recommendations of the new Group CEO. These included the approval of the new Group OpCo terms of reference, together with its membership. Members of the Committee were closely involved in the assessment and selection process for roles on the new Group OpCo, including the roles of CEO of Corporate and Institutional Banking and Western Markets, and the split of the previous Group COO’s responsibilities into two new Group OpCo roles – those of Group CIO and Group COO. Committee performance review The 2024 annual review of the effectiveness of the Board and Board Committees, including the Nomination & Corporate Governance Committee, was conducted externally by IBE. It determined that the Committee continued to perform effectively. There were no specific actions identified for the Committee. The review acknowledged the Committee’s role in the Group CEO succession process, which was very well managed, and identified several good practices that would be applied to future succession processes for key roles across the Group. Additional details on the annual review of the Board and Committees’ effectiveness can be found from page 287 .

| 292 | HSBC Holdings plcAnnual Report on Form 20-F |

Report of the Directors | Corporate governance report | Board committees

Subsidiary governance In line with the subsidiary accountability