HSBC Holdings Plc (00005) has announced that its Group Chief Financial Officer, Pam Kaur, has formally notified the board of her intention to step down in 2027. She will not seek re-election as a director at the company's 2027 Annual General Meeting. Her official resignation date from the role of Group CFO will be confirmed in due course, but it will not be later than the date of the 2027 AGM. Following her retirement from full-time duties as Group CFO and Executive Director next year, Kaur will transition to an advisory capacity, assisting the Group Chief Executive with ongoing strategic initiatives and ensuring a smooth handover to her successor.
Group Chairman, Mark Tucker, expressed his gratitude, stating that Kaur has made significant contributions to HSBC over the past 13 years. He thanked her personally and on behalf of the Board for her outstanding achievements, dedication, and loyal service. He highlighted her sharp judgment and high integrity demonstrated in roles spanning internal audit, risk management, compliance, and finance. He offered his deepest thanks and best wishes for her retirement from the Group CFO position.
Group Chief Executive, Georges Elhedery, commented that Kaur has been invaluable over the past two years as Group CFO and since joining the bank, bringing extensive experience, sound judgment, and a firm commitment to financial discipline. He expressed sincere gratitude for her support and assistance and is pleased that she will continue to lend her expertise in an advisory role.
Pam Kaur herself remarked that she feels privileged to have been part of the leadership team since 2013 and is proud of the work the team has done together to drive HSBC's strategic transformation and position the bank for future growth. With the bank in a strong financial and strategic state, she believes 2027 is the right time for her to pursue new leadership opportunities and apply her experience in different settings.
The Board has already initiated a process to select a successor for Kaur as Group CFO, with both internal and external candidates to be considered.