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 March
HSBC Holdings plc
42nd
Floor, 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
(Indicate
by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information
to the Commission pursuant to Rule 12g3-2(b) under the Securities
Exchange Act of 1934).
Yes
No X
(If
"Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 82-
).
17 March 2020
HSBC APPOINTS NOEL QUINN
AS GROUP CHIEF EXECUTIVE
HSBC Holdings plc announces that Noel Quinn is appointed Group
Chief Executive Officer. This is effective
immediately.
Group Chairman Mark Tucker, who led the global search,
said:
"Noel has proven to be the outstanding candidate to take on a role
permanently that he has performed impressively on an interim basis
since August 2019. He is a strong and proven leader with extensive
global banking expertise, deep client relationships and the energy
and skill to drive the business forward at pace. In the last few
months Noel has worked closely with the Board to agree the key
actions required to build and enhance performance on a sustainable
basis. He has shown a great understanding of HSBC, the challenges
we face and the significant opportunities for growth that lie
ahead. We wish him the very best in taking HSBC
forward."
Noel Quinn said:
"I am honoured to be given the opportunity to lead HSBC as Group
CEO. In leading the bank on an interim basis for the last few
months, I have really enjoyed working with Mark, the Board and over
230,000 colleagues around the world to reposition the Bank for
success in the future. HSBC is an outstanding global company with
talented and dedicated people. There is much that remains to be
done and I am confident that we will rise to the challenge and
deliver for our shareholders, customers, employees and society at
large."
For and on behalf of
HSBC Holdings plc
Aileen Taylor
Group Company Secretary and Chief Governance Officer
Media enquiries to:
Investor enquiries to:
SUPPLEMENTARY INFORMATION
Noel Quinn, aged 58, joined HSBC in 1987. He is currently Interim
Group Chief Executive. His appointment as an Executive Director of
HSBC Holdings plc (the Company) is subject to election at the next
annual general meeting of the Company. Mr Quinn's remuneration as
Executive Director and Group Chief Executive of the Company under
his service contract will consist of a base salary of
£1,271,000 per annum, a fixed pay allowance of £1,700,000
per annum and a pension allowance of £127,100 per annum equal
to 10% of his base salary. Mr Quinn's service contract also
provides for discretionary variable pay that consists of an annual
incentive award up to a maximum value of 215% of base salary, and a
long-term incentive award up to a maximum of 320% of base salary.
This is determined by reference to the performance and
profitability of the Company as well as his personal performance
and remuneration benchmarks in the industry.
Mr Quinn has not held any directorship in any other publicly listed
companies, whether in London, Hong Kong or overseas, during the
previous five years and he does not have any relationship with any
directors, senior management, substantial or controlling
shareholders of the Company. As at the date of this announcement,
Mr Quinn is interested in 1,078,357 ordinary shares of the Company,
representing in aggregate less than 0.0053 per cent of the issued
shares of the Company, within the meaning of Part XV of the
Securities and Futures Ordinance of Hong Kong.
This announcement is made pursuant to LR 9.6.11 of the UK Listing
Authority's Listing Rules (the UK Listing Rules) and Rule 13.51(2)
of the Rules Governing the Listing of Securities on the Stock
Exchange (the HK Listing Rules). No disclosure obligations arise
under paragraphs (2) to (6) of LR 9.6.13 R of the UK Listing Rules.
Details of directorships to be disclosed under paragraph (1) of LR
9.6.13 R of the UK Listing Rules are included within the
biographical details set out above. Save as disclosed above, there
are no other matters concerning the appointment of Mr Quinn as
Group Chief Executive Officer that need to be brought to the
attention of the shareholders of the Company nor is there any other
information that is required to be disclosed pursuant to the
requirements of Rule 13.51(2) of the HK Listing Rules.
Notes to editors:
1. Professional qualifications of Noel Quinn
Noel Quinn holds a BA (Honours) in Accountancy from Birmingham
Polytechnic.
2. Career history and other appointments of Noel Quinn
08/2019 - present
HSBC, Interim Chief Executive Officer UK
2015 - 2019
HSBC, Chief Executive of Global Commercial Banking UK
2011 - 2015
HSBC, Regional Head of CMB, Asia Pacific Hong Kong
2008 - 2011
HSBC, Head of CMB, UK
2007 - 2008
HSBC, Head of Commercial Finance Europe UK
2004 - 2007
HSBC, Group Director, Strategy & Development, North America
USA
1987- 2004
Various roles in the UK including in Midland Bank and subsidiary
businesses
3. The Board of Directors of HSBC Holdings plc as at the date of
this announcement comprises:
Mark Tucker*, Noel Quinn, Kathleen Casey†, Laura Cha†,
Henri de Castries†, Irene Lee†, José Antonio Meade
Kuribreña †, Heidi Miller†, David Nish†,
Ewen Stevenson, Jackson Tai† and Pauline van der Meer
Mohr†.
* Non-executive Group Chairman
† Independent non-executive Director
4. HSBC Holdings plc
HSBC Holdings plc, the parent company of the HSBC Group, is
headquartered in London. HSBC serves customers worldwide from
offices in 64 countries and territories in our geographical
regions: Europe, Asia, North America, Latin America, and Middle
East and North Africa. With assets of US$2,715bn at 31
December 2019, HSBC is one of the world's largest banking and
financial services organisations.
ends/all
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:
Aileen Taylor
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Title:
Group Company Secretary and Chief Governance Officer
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Date:
17 March
2020
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