LONDON (Reuters) - HSBC (>> HSBC Holdings plc) said Paul Walsh, the former chief executive of drinks maker Diageo (>> Diageo plc), is to step down from its board with immediate effect in order to focus on his other commitments.
Walsh only joined the bank's board on Jan. 1, 2016, and has a raft of other duties including the chairmanships of catering firm Compass Group and satellite data provider Avanti Communications Group as well as board positions at RM2 International and New York-listed FedEx Corporation.
HSBC said on Friday Walsh will not stand for reelection to its board at the bank's annual general shareholder meeting in London on April 28.
HSBC last month named AIA Group (>> AIA Group Ltd) boss Mark Tucker as the new chairman of its board, replacing the veteran Douglas Flint.
(Reporting By Lawrence White; Editing by Toby Davis)