HSBC Holdings plc revealed that Deputy Chairman, Sir Simon Robertson, Chair of HSBC North America Holdings, Rona Fairhead, and Safra Catz will stand down in the coming months.
Sir Simon and Rona will retire at the 2016 AGM and are HSBC’s longest serving non-executive directors having served for close to 10 and 12 years respectively, while Safra, who is a non-executive director, has served on the board for nearly eight years.
Douglas Flint, HSBC Group Chairman, said he was truly sad to be losing three such experienced directors.
“Simon as Senior Independent Director until this year’s AGM provided a vital link to our shareholders and regulators and was a huge support to me in my role as chairman,” said Douglas.
“Rona took on some of the most demanding governance responsibilities as chair of both the audit and risk committees during her term of office and most recently, as chair of our group in the United States, has been overseeing a refocussing of its operations and enhancement of controls.
“Safra has been invaluable in terms of contributing to board strategy and performance appraisal in matters of technology.”
The board said the appointments of Paul Walsh and Henri de Castries as independent non-executive directors will take effect from January 2016 and March 2016 respectively.
Douglas added that these appointments will add substantial strength to HSBC’s board.
“Their extensive international business experience and track record in shaping growing businesses, including undertaking business portfolio realignments, will further strengthen the existing skills on the HSBC board,” said Douglas.
“We very much look forward to welcoming Henri and Paul to HSBC.”
The appointments will be for an initial three-year term and will expire at the conclusion of the 2019 AGM.
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