HSBC shareholders fear succession plan thrown off-course

London

SOME major shareholders in HSBC want the bank to give greater reassurance on succession planning for its chairman and chief executive, concerned that a timetable for replacing veterans Douglas Flint and Stuart Gulliver may be slipping.

Three of four top-20 shareholders interviewed by Reuters said that they were worried that a revamp of the bank's long-serving leadership had been knocked off course by several competing demands, denting hopes for a speedy refresh of HSBC's culture and strategy.