3. Comunicación de la Responsabilidad Social Empresarial y elaboración de
3.4 Metodologías empleadas en la planificación y comunicación de
3.4.2 Principios para la Educación Responsable en Gestión
Investors’ reaction to the new leadership team was generally positive. On the day the leadership changes were announced, HSBC shares increased by 0.4 percent to 666.4 pence.
General investor sentiment was that despite the infighting, “the right men have ended up in the right jobs”21. However, many institutional investors remained upset at the poorly executed succession, and their disapproval manifested in
HSBC: Who’s the Boss?
Discussion Questions
1. What is the purpose of a succession plan and what are the components of a comprehensive succession plan?
2. How is succession planning for the board and senior management different for companies with controlling shareholders?
3. Identify the problems that arose as a result of HSBC’s Chairman succession.
What was lacking in HSBC’s succession plan?
4. What is the impact of poor succession planning on HSBC and its stakeholders?
5. What are the roles of the Chairman and the CEO? How are they different?
What are the attributes of a good Chairman?
6. What are the pros and cons of having the CEO becoming the Chairman?
In your view, has HSBC addressed the concerns of the CEO becoming Chairman by appointing the Finance Director as Chairman?
7. How should a company balance its needs against the expectations of external stakeholders with respect to compliance with good practice?
8. Imagine you are Sir Robertson right after the news broke about the CEO threatening to leave. How would you resolve the situation within and outside HSBC to protect the firm from adverse market reaction?
Endnotes
1 Moore, James, Trouble at Top of HSBC as Bank Furiously Denies CEO Quit Threat, 23 Sep 2010. The Independent. <http://www.independent.co.uk/news/business/
news/trouble-at-top-of-hsbc-as-bank-furiously-denies-ceo-quit-threat-2086990.html>
accessed 25 Dec 2012
2 Reece, Damian, HSBC Ex-Chief Michael Geoghegan Relaxes as Another Marathon Looms, 20 Dec 2010. The Telegraph. <http://www.telegraph.co.uk/finance/
newsbysector/banksandfinance/8212815/HSBC-ex-chief-Michael-Geoghegan-relaxes-as-another-marathon-looms.html> accessed 25 Dec 2012
3 Aldrick, Philip and Armistead, Louise, Green to Step Down as Chairman of HSBC, 2 May 2010, The Telegraph, <http://www.telegraph.co.uk/finance/newsbysector/
banksandfinance/7753386/Green-to-step-down-as-chairman-of-HSBC.html>
accessed 25 Dec 2012
4 HSBC Group Chairman to Step Down to become UK Minister of State for Trade and Investment, 7 Sep 2010, HSBC Holdings Plc, <http://www.hsbc.com/1/PA_esf-ca-app-content/content/assets/investor_relations/sea/2010/sea_100907_hsbc_green_
announcement_hk_en.pdf> accessed 25 Dec 2012
5 Ibid.
6 Ibid.
7 Goff, Sharlene, Jenkins, Patrick and Parker, George, Green Swaps Board Power for Political Clout, 7 Sep 2010, Financial Times, <http://www.ft.com/intl/cms/s/0/
b5ffc1ac-ba59-11df-8e5c-00144feab49a.html#axzz1sVDZcbQr> accessed 25 Dec 2012
8 Olson, Parmy, HSBC Replaces an Irreplaceable CEO, 27 Sep 2010, Forbes, 25 Dec 2012, <http://www.forbes.com/2010/09/27/hsbc-geoghegan-ceo-markets-equities-chairman-executives-replace.html> accessed 25 Dec 2012
9 Ibid.
10 Ibid.
11 Costello, Miles and Griffiths, Katherine and Hosking, Patrick, HSBC Risks Clash with Key Investors over New Chairman, 8 Sep 2010, The Times
12 “HSBC’s Flint Emerges as Consensus Candidate for Chairman”, 23 Sep 2010,
HSBC: Who’s the Boss?
13 Goff, Sharlene and Jenkins, Patrick, HSBC puts ‘Safe Pair of Hands’ at Top, 24 Sep 2010, Financial Times, <http://www.ft.com/intl/cms/s/0/ba8bb0e2-c809-11df-ae3a-00144feab49a.html#axzz1sVDZcbQr> accessed 25 Dec 2012
14 HSBC Chairman Contenders: Sir Simon Robertson, 23 Sep 2010, The Telegraph,
<http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/8019178/
HSBC-chairman-contenders-Sir-Simon-Robertson.html> accessed 25 Dec 2012
15 Jenkins, Patrick,HSBC Chief Geoghegan Threatens to Resign, 21 Sep 2011, Financial Times. <http://www.ft.com/intl/cms/s/0/06a88d22-c5af-11df-ab48-00144feab49a.html#axzz2G61ehppU> accessed 25 Dec 2012
16 Milmo, Dan, HSBC Denies that Chief Executive Threatened to Quit, 22 Sep 2010, The Guardian, <http://m.guardian.co.uk/business/2010/sep/22/hsbc-chief-executive-threatens-to-quit?cat=business&type=article> accessed 25 Dec 2012
17 Reece, Damian, HSBC Ex-Chief Michael Geoghegan Relaxes as Another Marathon Looms, 20 Dec 2010, The Telegraph, <http://www.telegraph.co.uk/finance/newsby sector/banksandfinance/8212815/HSBC-ex-chief-Michael-Geoghegan-relaxes-as-another-marathon-looms.html> accessed 25 Dec 2012
18 Osborne, Alistair, HSBC Bust-Up Shows the Egos will Always Land at Britain’s Biggest Banks, 24 Sep 2010, The Telegraph, <http://www.telegraph.co.uk/finance/comment/
alistair-osborne/8024341/HSBC-bust-up-shows-the-egos-will-always-land-at-Britains-biggest-banks.html> accessed 25 Dec 2012
19 HSBC Announces New Leadership Team, 24 Sep 2010, HSBC Holdings Plc,
<http://www.hsbc.com/1/2/newsroom/news/2010/hsbc-announces-new-leadership>
accessed 25 Dec 2012
20 Treanor, Jill, HSBC’s Geoghegan to get £17m After Losing Out on Chairman Role, 24 Sep 2010, The Guardian, <http://m.guardian.co.uk/business/2010/sep/24/hsbc-boardroom-struggle-liberal-democrats?cat=business&type=article> accessed 25 Dec 2012
21 Corrigan, Tracy, Ed Miliband, HSBC and Kim Jong-Un: How to Put the Success into Succession, 29 Sep 2010, The Telegraph, <http://www.telegraph.co.uk/finance/
comment/tracycorrigan/8032012/Ed-Miliband-HSBC-and-Kim-Jong-un-how-to-put-the-success-into-succession.html> accessed 25 Dec 2012
22 Ho, Geoff. “HSBC Investors Call for a Purge: Bloody Infighting over New Chief Executive Causes Fury, 26 Sep 2010, Sunday Express,