(Bloomberg) -- HSBC Holdings Plc is preparing to start the search for a successor to Chairman Mark Tucker, Sky News reported, citing people with knowledge of the matter.
The board has appointed headhunters to lead the search for a replacement for Tucker, who is expected to step down around the bank’s annual general meeting in Spring 2026, Sky said. Search firm MWM Consulting is among the frontrunners to run the process, according to the broadcaster.
The search is being coordinated by Ann Godbehere, a senior independent non-executive director at HSBC, Sky reported. The board will consider both existing non-executive directors and outsiders to succeed Tucker, according to Sky.
A HSBC spokeswoman declined to comment.
The search is starting shortly after new Chief Executive Officer Georges Elhedery began a major restructuring of the bank. Elhedery is slimming down his management committee and has had hundreds of managers reapplying for jobs.
Tucker has been chairman of HSBC since 2017. Prior to that role he was CEO of AIA Group Ltd.
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