HSBC Holdings PLC on Friday confirmed that Chair Mark Tucker will step down at the end of September, having previously announced that he would leave by the end of this year.
Earlier Friday, Hong Kong-based insurer AIA Group Ltd said Tucker will become its chair on October 1, with current Chair Edmund Sze-Wing Tse set to retire at the end of September.
Tucker previously served as chief executive officer of AIA from 2010 to 2017.
The London-based bank said Senior Independent Director Ann Godbehere is leading the effort to find a new chair to replace Tucker.
In the meantime, Brendan Nelson, an independent non-executive director, will become interim chair, HSBC said.
Tucker will remain as a strategic adviser to the CEO and board while the process to appoint a successor continues.
Godbehere said: ‘The nomination and corporate governance committee continues to make progress on the succession process for the next HSBC group chair. Our focus is on securing the best candidate to lead the board and wider group over the next phase of our growth and development.’
Shares in HSBC were up 0.3% at 875.90 pence in London on Friday morning. AIA shares were up 0.5% at HK$67.15 late Friday in Hong Kong.
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