CIBC Names Bill Morneau Board Chair Effective Jan. 1, 2027

CIBC named former Canadian finance minister Bill Morneau to lead its board starting Jan. 1, 2027. Morneau has been an independent director at the bank since 2022.

Katharine B. Stevenson is scheduled to leave the board Dec. 31, 2026. Her departure will end six years as chair and 10 years as an independent director.

Morneau’s career has included business and government roles. He led Morneau Shepell from 1990 to 2015, then served in Canada’s Parliament and as finance minister from 2015 to 2020. During that period, he also served as governor of the International Monetary Fund and World Bank.

On CIBC’s board, Morneau chairs the Corporate Governance Committee. He previously chaired the Technology Committee and also serves on the bank’s U.S. board.

“I am honoured to succeed Kate,” Morneau said. CIBC trades as CM on the Toronto Stock Exchange and the New York Stock Exchange.