HSBC has made a number if sweeping changes to its board in a move seen as a statement of intent as the corporate tries to win back the confidence of worried shareholders after a share slump at the end of 2006.
Fairhead, CEO of the Financial Times Group has been a non-executive director at the bank since 2004. She graduated to the chief exec role after a successful tenure as CFO of publishing group Pearson, owners of the FT.
The high-flyer's appointment as audit chair will come into effect at the conclusion of HSBC's AGM which traditionally takes place on the last Friday of May.
You may also like
If budgeting is to have any value at all, it needs a radical overhaul. In today's dynamic marketplace, budgeting can no longer serve as a company's only management system; it must integrate with and support dedicated strategy management systems, process improvement systems, and the like. In this paper, Professor Peter Horvath and Dr Ralf Sauter present what's wrong with the current approach to budgeting and how to fix it.
In this white paper CCH provide checklists to help accountants and finance professionals both in practice and in business examine these issues and make plans. Also includes a case study of a large commercial organisation working through the first year of mandatory iXBRL filing.