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Sudden Leaving of HSBC's Quinn Due to Internal Reasons, British Media Says
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HSBC HOLDINGS (00005.HK) announced its quarterly results a few days ago and surprisingly disclosed that Group CEO Noel Quinn told the board his intention to step down and find a better balance between his personal life and work. Financial Times, quoting sources, reported that Quinn did not intend to leave at the beginning of December last year, but suddenly decided to step down after the Christmas holidays. Some staff commented that they were taken by surprise by the decision. The report cited sources that Quinn may retire at the age of 65 or so, while the term of HSBC chairman Mark Tucker will expire in 2026. HSBC could not replace the two important posts of chairman and CEO in the same year, and the board needed to decide who would leave first. As Tucker hoped to oversee the CEO succession during his term of office, the board decided to let Quinn leave before Tucker. AAStocks Financial News |
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