HSBC has stated that its group chairman, Sir Mark Tucker, will step down from the role and as a member of the board from 30 September 2025.

This follows the announcement on 1 May of his intention to retire from the position before the end of the year.

The international banking group said that the process of selecting a new permanent group chair, which is being conducted by senior independent director, Ann Godbehere, is ongoing.

In the interim period, HSBC’s independent non-executive director and chair of the group audit committee, Brendan Nelson, will assume the role of interim group chair upon Tucker’s retirement.

Godbehere said: "On behalf of the board and the wider HSBC Group, I wish to again reiterate our thanks to Tucker for his leadership and stewardship of the bank over the past eight years. We wish him well in his new role at AIA.

"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.

"Nelson's extensive experience on UK listed boards, and as group audit chair, makes him ideally placed to assume the role on an interim basis while the process continues."

Nelson concluded: "I am honoured to lead HSBC during this period of transition, whilst the process to identify a permanent successor completes, under Ann's experienced leadership."

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