18th Mar 2016 10:01
LONDON (Alliance News) - HSBC Holdings PLC on Friday said its nominations committee has turned its attention to a succession plan for its chairmanship in order to allow the new chairman to lead the search for its next chief executive.
In its annual general meeting circular, HSBC said its board's nominations committee has turned its attention to formulating a succession plan for Chairman Douglas Flint.
The board is seeking to appoint a successor to Flint in 2017, though the exact timing will be dependent on identifying the right candidate, HSBC said.
In due course, the new chairman would then lead the process of selecting HSBC's next group chief executive, the bank said.
Shares in HSBC were up 0.5% to 451.35 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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