TIDMHSBA
RNS Number : 8011I
HSBC Holdings PLC
20 April 2022
20 April 2022
HSBC HOLDINGS PLC
CHANGES TO BOARD AND COMMITTEE COMPOSITION
Appointment of an Independent non-executive Director
HSBC Holdings plc (the 'Company') has today announced the
appointment of Geraldine Buckingham (44) as an Independent
non-executive Director of the Company. The appointment will take
effect from 1 May 2022.
Ms Buckingham is a highly regarded and widely experienced
executive within the global financial services industry who brings
significant Asia leadership experience to the Board. Ms
Buckingham's most recent executive role was as Chair and Head of
Asia Pacific at BlackRock where she was responsible for all
business activities across Hong Kong and mainland China, Japan,
Australia, Singapore, India and Korea.
After stepping down from this role in February 2021, she acted
as senior advisor to Larry Fink, BlackRock Chairman and CEO, until
her retirement from BlackRock at the end of 2021. She previously
served as Global Head of Corporate Strategy at BlackRock, where she
helped to develop and implement the firms long-term strategic and
business goals. Prior to joining BlackRock, she was a partner
within McKinsey & Company's financial services practice, where
she advised global asset managers, as well as wealth management and
private equity firms.
Commenting on the appointment, HSBC's Group Chairman, Mark
Tucker, said:
"Geraldine's strategic acumen, her time in Asia leading
BlackRock's business in the region and her extensive experience in
wealth and asset management will strengthen our oversight of the
delivery of our growth strategy. We look forward to welcoming her
to the Board next month."
The Directors have determined that Geraldine is independent. In
making that determination, the Directors have concluded that there
are no other relationships or circumstances which are likely to
affect her judgement and that any relationships or circumstances
which could appear to do so were not considered to be material.
Group Remuneration Committee Chair
The Company has also today announced that Dame Carolyn Fairbairn
will succeed Pauline van der Meer Mohr as Chair of the Group
Remuneration Committee with effect from the conclusion of the
Company's 2022 Annual General Meeting on Friday, 29 April 2022.
In approving Dame Carolyn's appointment as Chair of the Group
Remuneration Committee, the Board considered the UK Corporate
Governance Code (the 'Code') expectation that the Chair have served
at least 12 months' before assuming the position of Chair. Given
her previous experience as both a member and chair of the
remuneration committees of other UK listed companies, the Board
were happy to approve her appointment as Chair as a deviation from
the expectations under the Code.
HSBC's Group Chairman, Mark Tucker, said:
"I am delighted that Carolyn has agreed to take up the Group
Remuneration Committee Chair role. Her previous experience of the
UK remuneration requirements and stakeholder expectations on
executive pay, together with her extensive knowledge of the
macroeconomic and political environment, mean that she is extremely
well placed to assume this role."
For and on behalf of
HSBC Holdings plc
Aileen Taylor
Group Company Secretary and Chief Governance Officer
Media enquiries to:
Heidi Ashley +44 (0)20 7992 2045 heidi.ashley@hsbc.com
Supplementary Information:
As an Independent non-executive Director, Geraldine Buckingham
will not have a service contract with the Company and will be paid
total fees of GBP131,000 per annum pursuant to the Directors'
remuneration policy, proposed for approval by shareholders at the
2022 Annual General Meeting ('AGM'). The total per annum fees
consist of: GBP127,000 for her role as Independent non-executive
Director and a GBP4,000 Travel Allowance.
Geraldine's appointment as a Director of the Company is subject
to election by shareholders at the 2023 AGM and annual re-election
thereafter. Her initial three-year term will run from her initial
election, if successful, until the 2026 AGM.
Save as disclosed above, Geraldine has not held any
directorships in any other publicly listed companies, whether in
London, Hong Kong or overseas, during the previous five years. She
does not have any relationship with any directors, senior
management, substantial or controlling shareholders of the Company.
She does not have any interests in the shares of the Company within
the meaning of Part XV of the Securities and Futures Ordinance.
There are no matters relating to the appointment of Geraldine
that need to be disclosed pursuant to Listing Rule 9.6.13(2) to (6)
of the Listing Rules of the Financial Conduct Authority. Save as
disclosed above there is no other information required to be
disclosed pursuant to Rule 13.51(2) of the Rules Governing the
Listing of Securities on the Stock Exchange of the Hong Kong
Limited.
Note to editors:
1. Professional qualifications of Geraldine Buckingham
Master of Philosophy in Comparative Social Policy. University of
Oxford, 2006.
Bachelor of Medicine and Bachelor of Surgery (MBBS). Monash
University, 2002.
2. The Board of Directors of HSBC Holdings plc as at the date of
this announcement is:
Mark Tucker*, Noel Quinn, Rachel Duan , Carolyn Julie Fairbairn
, James Anthony Forese , Steven Guggenheimer , Irene Lee , José
Antonio Meade Kuribreña , Eileen K Murray , David Nish , Ewen
Stevenson, Jackson Tai and Pauline van der Meer Mohr .
* Non-executive Group Chairman
Independent non-executive Director
3. The HSBC Group
HSBC Holdings plc, the parent company of the HSBC Group, is
headquartered in London. The HSBC Group serves customers worldwide
from offices in 64 countries and territories in its geographical
regions: Europe, Asia, North America, Latin America, and Middle
East and North Africa. With assets of US$2,958bn at 31 December
2021, HSBC is one of the world's largest banking and financial
services organisations.
ends/all
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