HSBC on Monday announced the surprise departure of its Chief Executive Officer J...
FILE PHOTO: CEO John Flint of HSBC attends the World Economic Forum annual meeting in Davos, Switzerland, January 24, 2019. REUTERS/Arnd Wiegmann
- HSBC on Monday announced the surprise departure of its Chief Executive Officer John Flint, 51, saying the bank needed a change at the top to address “a challenging global environment.” The change comes nearly one-and-a-half years after Flint took helm was announced along with its results, initially scheduled for later on Monday, which showed first-half pretax profit rose 15.9%.The lender also declared a further buyback of $1 billion, defying some analysts’ expectations it might pause its strategy of returning extra capital to investors.
“The board believes a change is needed to meet the challenges that we face and to capture the very significant opportunities before us,” Chairman Mark Tucker said. Noel Quinn, 57, the head of its Global Commercial Banking unit will hold the role of interim CEO, the lender said in a statement.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
HSBC first-half profit rises 16%, announces $1 billion buybackHSBC reported on Monday its first-half pretax profit rose 15.9% and announced a ...
Read more »
Arianna Huffington Joins Beautycon To Inspire Next-Gen EntrepreneursBeautycon has been described as the Super Bowl of the beauty industry. Now Arianna Huffington and Beautycon CEO Moj Mahdara discuss why it's a place for next-gen entrepreneurs to get the tools they need to succeed.
Read more »
Capital One Hack Puts Low-Profile CEO in SpotlightCapital One is under scrutiny after a hacker exposed the personal information of some 106 million people, raising questions about the technology CEO Richard Fairbank has promoted.
Read more »
Fiat Chrysler CEO: We'll talk alliances, but we can go it aloneFiat Chrysler Automobiles Chief Executive has a message for Renault SA and other...
Read more »
A $400 million yacht rumored to be owned by Jeff Bezos called the 'Flying Fox' was spotted off the coast of TurkeyThe 'Flying Fox' yacht, rumored to be worth $400 million and owned by Amazon CEO Jeff Bezos was spotted off the coast of Turkey in photos on Twitter.
Read more »
Taco Bell's chief marketing officer is leaving the company after 3 yearsThalberg's departure comes just as Yum Brands reported its second quarter earnings this week, and named former Adidas exec Mark King as its new CEO.
Read more »