Company: HBCYF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001089113-25-000040
Chunk: 402

Company: HSBC HOLDINGS PLC
Filing Date: 2025-02-20
Form: 20-F
Chunk 402
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 the Sustainability Working Group. We subsequently agreed to expand the remit of the Group Technology Committee to include Operations. Going forward, the

| 290 | HSBC Holdings plcAnnual Report on Form 20-F |

Report of the Directors | Corporate governance report | Board committees

Group Technology and Operations Committee will oversee the work of the new Group CIO and Group COO. Both forums have strengthened our governance oversight in the key areas of technology and sustainability, which are two critical elements of our strategy and risk management activity. Additional details on these forums can be found on pages 26 , and 306 . Separately, following the changes to the organisational structure announced in October 2024, the Committee considered what further enhancements to the Group’s governance arrangements were necessary. This resulted in two principal changes. Firstly, in order to strengthen the connectivity between the Group and our most significant subsidiary boards, the Committee recommended that Ann Godbehere and Brendan Nelson be appointed as directors of HSBC Bank plc and HSBC UK Bank plc, respectively. Secondly, the Committee approved changes to the Group’s executive governance framework and operating rhythm aimed at ensuring enhanced, clearer lines of accountability and decision-making. The annual Board and Committee performance review is critically important for ensuring that our governance practices meet the highest standards and work effectively. Following the externally facilitated review in 2023, conducted by IBE, the Committee invited them again to conduct a follow-up review in 2024. The objective was to provide assurance that the recommendations made had been addressed and that the Board and its Committees were working effectively. The findings and agreed actions from the 2024 review can be found from page 287 . Finally, there were changes to the UK and Hong Kong Corporate Governance Codes, which take effect from this year. Whilst our existing governance practices are aligned with the requirements of these revised Codes, the Committee continues to assess possible enhancements, monitoring market practices to ensure that we not only remain compliant, but also meet our objective of having world class governance. Sir Mark E Tucker Group Chairman Committee governance The Group Chief People & Governance Officer, in her capacity as the Group Company Secretary, attended all Committee meetings during the year. She supported the Group Chairman in ensuring that the Committee fulfilled its governance responsibilities. The Group CEO selectively attended Committee meetings, joining when required. Russell Reynolds Associates (’RRA’) supported the Committee and the management team with Board succession planning and appointments. RRA also provided support to management on senior management succession, and on development and recruitment. Representatives from RRA regularly attend meetings during the