FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a - 16 or 15d - 16 of
the Securities Exchange Act of 1934
For the
month of September
HSBC Holdings plc
8
Canada Square, London E14 5HQ, England
(Indicate
by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or
Form 40-F).
Form
20-F X Form 40-F
10
September 2026
HSBC Holdings plc
Group CFO Succession
HSBC Holdings plc (‘HSBC’ or the ‘Company’)
today announces that Group CFO, Pam Kaur, has informed the Board of
her plan to leave her role in 2027 and not to stand for re-election
as director at the 2027 AGM. Her official retirement date as Group
CFO will be confirmed in due course but will be no later than the
Company’s 2027 AGM.
After stepping down from the full-time role of Group CFO and
Executive Director next year, Pam will assume an advisory role to
support the Group CEO with ongoing strategic projects and ensure a
smooth transition of responsibilities to her
successor.
HSBC Group Chairman, Brendan Nelson, said: “Pam has made a
significant contribution to HSBC over the last 13 years. I would
like to thank her personally, and on behalf of the Board, for her
achievements, dedication and service. In her roles in Internal
Audit, Risk & Compliance, and Finance, she has demonstrated
strong judgement and integrity. She will leave the Group CFO role
with our deepest thanks and best wishes.”
HSBC Group CEO, Georges Elhedery, said: “Over the last two
years as Group CFO and during her tenure at HSBC, Pam’s deep
experience, strong judgement and firm commitment to financial
discipline have been invaluable. I am grateful for her support and
partnership and am pleased this will continue in her capacity as an
adviser.”
Pam Kaur said: “It has been a privilege to be part of the
leadership team since 2013, and I am proud of what we have achieved
together to strategically transform HSBC and ensure the bank is
well positioned for further growth. With the bank in a strong
place, financially and strategically, 2027 feels the right time in
my career to embrace new leadership opportunities and apply my
experience in a different context.”
The Board has commenced a process to identify Pam’s successor
as Group CFO, which will consider both internal and external
candidates.
The Appendix contains a summary of the terms relating to
Pam’s departure from HSBC, which are in line with
Directors’ Remuneration Policy approved by shareholders at
the Company’s 2025 AGM.
There are no matters relating to the retirement of Pam that need to
be brought to the attention of the shareholders of the Company.
Save as disclosed above and in the appendix, there is no other
information required to be disclosed pursuant to Listing Rule 6.4.6
of the UK Listing Rules of the Financial Conduct Authority or Rule
13.51(2) of the Rules Governing the Listing of Securities on the
Stock Exchange of Hong Kong Limited.
For and on behalf of HSBC Holdings plc
Angela McEntee
Group Company Secretary
Note to editors:
The
HSBC Group Board of Directors as at the date of this announcement
comprises: Brendan Robert Nelson*, Georges Bahjat Elhedery,
Geraldine Joyce Buckingham†, Wei Sun Christianson†,
Rachel Duan†, Dame Carolyn Julie Fairbairn†, James
Anthony Forese†, Steven Craig Guggenheimer†, Manveen
(Pam) Kaur, Dr José Antonio Meade Kuribreña†,
Richard Henry Meddings†, Kalpana Jaisingh Morparia†,
Eileen K Murray† and Swee Lian Teo†.
*
Independent non-executive Chairman
† Independent non-executive Director
HSBC
Holdings plc, the parent company of HSBC, is headquartered in
London. HSBC serves customers worldwide from offices in 56
countries and territories. With assets of US$3,438bn at 30 June
2026, HSBC is one of the world’s largest banking and
financial services organisations.
Mina
Sharma +44 (0)7387 244371 mina.bharat.sharma@hsbc.com
Appendix
Pam is
expected to remain as Group CFO and Executive Director until the
Company’s 2027 AGM, or earlier if a successor starts in role,
and will be available to support an orderly transition. She will
remain on the Board until the 2027 AGM.
Pam
will continue to receive salary, cash allowance in lieu of pension,
and benefits in the normal way throughout her notice period (which
ends on 9 September 2027).
Following her retirement, Pam will remain employed with the Company
as an advisor to the Group CEO, which is expected to continue
through to the end of 2028, although there is a standard
termination clause on both sides.
Pam
will be eligible to be considered for an annual incentive award for
the 2026 performance year in the ordinary course and for the 2027
performance year, subject in each case to an assessment of the
relevant performance measures and her contribution over the
performance year. Any award for the 2027 performance year would be
determined on a pro rata basis to the date Pam steps down from the
Board. Details of any bonuses awarded will be disclosed in the 2026
or 2027 Directors’ Remuneration Report, as
applicable.
Pam has
been granted Good Leaver status, in accordance with the respective
plan rules, in respect of the deferred awards and the LTI awards
that she holds that are due to vest after her retirement as Group
CFO. Her Good Leaver status is conditional upon her not taking up a
role with a defined list of competitor financial services firms
prior to the date on which the relevant awards begin to
vest.
As a
Good Leaver, her deferred awards will continue to vest and be
released on their scheduled vesting dates, subject to the relevant
terms (including post-vesting retention periods, malus and, where
applicable, clawback).
Any
vesting of her LTI awards will be pro-rated for the period until
the end of her employment with the Company and will be subject to
the relevant terms (including post vesting retention periods, malus
and, where applicable, clawback). Any vesting of her LTI awards
will be disclosed, as required, in the appropriate directors’
remuneration report. Pam will not be eligible for the grant of any
further LTI awards.
In
addition to the above, the Company will make a contribution towards
Pam’s legal fees incurred in connection with her retirement
arrangements. In line with the Directors’ Remuneration
Policy, Pam will also be entitled to receive medical cover, tax and
legal advice for a period of up to seven years from the expiry of
her 12-month notice period in relation to services provided to the
Company. Pam will continue to be covered by the Company’s
D&O insurance and will benefit from an indemnity in respect of
third-party liabilities.
Pam
will receive no other compensation or payment for the termination
of her employment agreement or her ceasing to be a director of the
Company.
The
above information is provided in compliance with section 430(2B) of
the Companies Act 2006.
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.
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HSBC
Holdings plc
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By:
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Name:
Angela McEntee
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Title:
Group Company Secretary
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Date:
10 September 2026
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