CIBC Leadership Changes Signal New Strategic Direction Ahead

CIBC Strengthens Executive Leadership for Future Growth

CIBC has recently announced pivotal leadership changes within its Group Executive Leadership Team, aimed at advancing the bank's client-focused strategy. This transformative shift comes as Harry Culham prepares to take on the position of President and CEO in the near future.

Mr. Culham emphasized the significance of fostering a purpose-driven culture and executive alignment across the organization to enhance client service. He believes these leadership changes will leverage CIBC's strategic investments and empower the bank's growth trajectory.

Key Appointments to the Executive Leadership Team

Several seasoned executives have been appointed to crucial roles, further solidifying CIBC's commitment to exceptional client service and innovation:

Christian Exshaw - Senior Executive Vice-President and Group Head, Capital Markets

Christian Exshaw will now oversee Capital Markets on a global level. His prior experience leading Global Markets and Investment Banking positions him well for this expanded role.

Kevin Li - Senior Executive Vice-President and Group Head, U.S. Region

Kevin Li brings over two decades of experience and will lead CIBC Bank USA, drawing upon his strong client relationships to further enhance CIBC's presence in the U.S. market.

Christina Kramer - Senior Executive Vice-President and Chief Administrative Officer

Christina Kramer continues to direct CIBC's technology and innovation strategy while now also overseeing Corporate Governance and ESG efforts, ensuring a comprehensive approach to sustainability across the bank.

Hratch Panossian - Senior Executive Vice-President and Group Head, Personal and Business Banking

In his broader mandate, Hratch will manage client marketing and contact centers, driving growth within Personal and Business Banking through innovative strategies.

Susan Rimmer - Senior Executive Vice-President and Group Head, Commercial Banking and Wealth Management

Susan Rimmer remains focused on fostering strong client relationships in Canada while expanding CIBC's reach in the Caribbean market.

Amy South - Executive Vice-President, Office of the CEO

Amy South will oversee several strategic functions, including Government Relations and CIBC Mellon, enhancing the bank's operational connectivity.

Stephen Scholtz - Global Chief Legal Officer

Stephen Scholtz will lead CIBC's global legal affairs, leveraging nearly 20 years of experience within the company to guide legal strategies and operations.

Continuity Amidst Leadership Changes

Alongside these new executives, CIBC retains key leaders in their existing positions, ensuring stability and continuity within the bank's operational framework. The leadership team includes:

• Frank Guse, Senior Executive Vice-President and Chief Risk Officer
• Robert Sedran, Senior Executive Vice-President and Chief Financial Officer
• Sandy Sharman, Senior Executive Vice-President and Group Head, People, Culture and Brand

Highlighting Retirements

Today’s announcements also come with news of upcoming retirements, underscoring a transition period for CIBC:

Shawn Beber - Senior Executive Vice-President, U.S. Region

Shawn Beber will retire after more than 23 years, transitioning into a Special Advisor role to support leadership until the full transition is complete.

Kikelomo Lawal - Executive Vice-President and Chief Legal Officer

Kikelomo Lawal will also retire, leaving behind a legacy of strong governance practices and sustainability initiatives.

Acknowledging Leadership Transition

Mr. Culham expressed gratitude towards the retiring leaders for their impactful contributions. The new appointments signify a robust future for CIBC, dedicated to positioning the bank as a leader in client relations and innovation across North America.

About CIBC
CIBC is a top-tier North American financial institution serving 14 million personal and business clients. By providing a comprehensive range of services through a leading digital platform, CIBC aims to meet and exceed client expectations, paving the path for future growth and success.

Frequently Asked Questions

What recent changes were announced by CIBC?

CIBC announced new leadership appointments aimed at enhancing its client-focused strategy.

Who will be the new President and CEO of CIBC?

Harry Culham will assume the role of President and CEO, focusing on the bank's client-centric approach.

What is CIBC's strategy moving forward?

CIBC's strategy focuses on fostering a purpose-driven culture and enhancing client engagement through strategic leadership changes.

Which executives have been appointed to new roles?

Key appointments include Christian Exshaw, Kevin Li, Christina Kramer, and several others, each assuming pivotal roles in senior management.

How does CIBC view its leadership continuity during this transition?

CIBC emphasizes the importance of continuity among its leadership team to ensure stability and consistent execution of its strategic plans.

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