Aug 7, 2019

HSBC shows the need for succession planning

The abrupt exit of HSBC chief executive John Flint, removed by the board after just 18 months in the job, shows what happens when it goes wrong. The company now has the opportunity to correct course, break with tradition and look for a candidate who can change the bank's culture and articulate a new strategy for the Chinese mainland. Mr Flint, who had spent 32 years at the bank, was a loyal ally of Mr Gulliver, another "Lifer". All four of the bank's major markets face storm clouds. In Hong Kong, the bank needs a better digital offering.

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