logo
Plus   Neg
Share
Email

CIBC Names Hratch Panossian To Succeed Kevin Glass As CFO - Quick Facts

Canadian Imperial Bank of Commerce or CIBC (CM.TO,CM) President and CEO Victor Dodig announced Thursday that Senior Executive Vice-President and Chief Financial Officer Kevin Glass is retiring after 10 years with the bank, effective January 1, 2020.

Glass will continue to serve as CFO until October 31, 2019 and stay on as a special advisor during a transition period until his retirement.

CIBC has promoted Hratch Panossian, current EVP of Global Controller and Investor Relations, to succeed Glass as Senior Executive Vice-President and CFO, effective November 1, 2019.

Panossian has previously held key leadership roles in Treasury, Finance, and Corporate Strategy and Development, in addition to broad experience from the financial services and consulting sectors.

Additionally, CIBC said Kevin Patterson, Senior Executive Vice-President and Group Head, Technology and Operations will be retiring after more than 35 years with the bank, effective May 1, 2020. Patterson will remain in his role until his retirement next year.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Casino operator MGM Resorts International said it was the victim of a data breach in 2019 after a report claimed that the details of more than 10.6 million hotel guests were exposed. Technology website ZDNet reported about the incident late on Wednesday, saying that the personal details of more than 10.6 guests who stayed at MGM Resorts hotels were published on a hacking forum this week. Amid the ongoing troubles with its 737 MAX commercial planes grounding since March 2019, Boeing (BA) has secured a five-year U.S. Air Force contract to sustain and modernize the Global Decision Support System, or GDSS. The financial terms of the deal were not disclosed. The contract was awarded to Tapestry Solutions, part of Boeing Global Services. Reinsurer Swiss Re reported Thursday significantly higher profit in fiscal 2019 driven by higher premiums mainly in property and casualty businesses, despite heavy natural catastrophe losses. The company also said it will propose higher dividend and share buyback of up to 1 billion Swiss Francs. Swiss Re were losing around 4 percent in trading.
Follow RTT
>