HSBC’s Ann Godbehere to retire as chair search ends with Nelson’s appointment

HSBC’s Ann Godbehere to retire as chair search ends with Nelson’s appointment

Her departure comes as HSBC has drawn a line under a chair succession that dragged on for more than a year, ending in the surprise confirmation of interim chair Brendan Nelson.

Brendan Nelson said he respected Ann Godbehere’s decision to step down now that the chair search had been completed. (HSBC pic)
LONDON:
HSBC Holdings said today that Ann Godbehere, its senior independent director and board member who led the search for a new chair, would step down and retire at the bank’s 2026 annual general meeting due to “personal and lifestyle reasons”.

Her departure comes as HSBC has drawn a line under a chair succession that dragged on for more than a year, ending in the surprise confirmation of interim chair Brendan Nelson in early December.

The drawn-out process and the late pivot to an internal candidate had been closely watched and, in some quarters, met with frustration, reviving questions about succession planning at a bank that sells itself on disciplined governance.

After considering high-profile external contenders, including former UK finance minister George Osborne and Goldman Sachs executive Kevin Sneader, HSBC ultimately opted for Nelson – a seasoned board member with experience at BP and NatWest.

Nelson said he respected Godbehere’s decision to step down now that the chair search had been completed, according to a company statement.

Her departure comes as London-headquartered HSBC tries to simplify its Asia-heavy franchise by moving to buy out minority investors in Hang Seng Bank for HK$106.1 billion.

Stay current - Follow FMT on WhatsApp, Google news and Telegram

Subscribe to our newsletter and get news delivered to your mailbox.