See More

HSBC chair quashes resignation rumours

May 28 2010 14:58

Related Articles

HSBC boss gives bonus to charity

HSBC boss paid $3.7m to move

HSBC boss slams inflated bonuses

HSBC profits up on China growth

97% take-up for HSBC rights issue

HSBC CEO switches to Hong Kong


London - Stephen Green, chairperson of banking giant HSBC, said on Friday that he expected to still be in his role during 2011 after a report suggested he would resign later this year.

Green told shareholders at the group's annual general meeting in London that a report in The Sunday Telegraph was wide of the mark.

"I would have preferred not to say anything (about the chairperson position) because actually we have nothing to announce," Green said.

"At HSBC, we do of course discuss succession for all key roles, both at board and senior management level, indeed it would be irresponsible of us not to do so.

"Rest assured, when there's something to say, we will say it to our shareholders first," he added.

The Sunday Telegraph on May 23 said Green would step down later this year to be replaced by a former senior executive of US banking giant Goldman Sachs.

It reported that the bank had briefed investors that John Thornton, a non-executive director at HSBC, was in line to replace Green.

HSBC refused to publicly comment on the story until Friday.

Green has been chairperson since 2006 after working as the bank's chief executive for three years.

  - AFP




Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Add your comment
Comment 0 characters remaining

Company Snapshot

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Government’s decision to withhold payment to municipalities in debt to Eskom is:

Previous results · Suggest a vote