CIBC Implements Executive Leadership Changes to Drive Client-Centric Strategy Forward

CIBC, a leading North American financial institution, has recently announced significant changes within its executive leadership team. These strategic adjustments are set to enhance the bank's client-focused strategy and ensure future growth as it adapts to a rapidly evolving market.

As part of this restructuring, Harry Culham will take on the role of President and CEO starting November 1, 2025. Culham emphasized the importance of a purpose-led culture and a connected work environment in achieving the bank's goals. He stated, "Across CIBC, we are accelerating our momentum by delivering on our client-focused strategy and fostering a culture that spans our entire bank."

Several notable promotions within the team include:
1. Christian Exshaw, who will serve as Senior Executive Vice-President and Group Head of Capital Markets. Exshaw's previous experience as Deputy Head of Capital Markets showcases his actionable insights and leadership capabilities developed over years on the trading floor.
2. Kevin Li, appointed Senior Executive Vice-President and Group Head for the U.S. Region, and CEO of CIBC Bank USA. Li has an extensive background in Global Investment Banking and has been instrumental in establishing strong cross-border growth strategies since he joined CIBC in 1994.
3. Christina Kramer, who has been named Senior Executive Vice-President and Chief Administrative Officer (CAO). Kramer will oversee various vital sectors, including Technology and Corporate Governance, ensuring efficient integration of services across the bank.
4. Hratch Panossian will continue as Senior Executive Vice-President and Group Head of Personal and Business Banking, broadening his responsibilities to include client contact centers and marketing initiatives. His focus on modernization and innovation has already fortified CIBC's retail banking operations.
5. Susan Rimmer, as Senior Executive Vice-President and Group Head of Commercial Banking and Wealth Management, will maintain her role while expanding to oversee operations in the Caribbean, enhancing client connectivity in the region.
6. Amy South will assume the role of Executive Vice-President, Office of the CEO and Chief of Staff, facilitating connections across various operations, from Government Relations to the Economics group.
7. Stephen Scholtz, who served as General Counsel Canada, is appointed as the Global Chief Legal Officer, ensuring leadership in global legal matters.

Continuity within the team remains strong, with Frank Guse, Robert Sedran, and Sandy Sharman continuing in their respective high-impact roles.

Additionally, the bank recognizes the forthcoming retirements of key figures. Shawn Beber, currently Group Head for the U.S. Region, will retire in July 2026 after a commendable 23-year tenure, transitioning to a special advisory role to bridge leadership during the change. Kikelomo Lawal, Executive Vice-President and Chief Legal Officer, will also retire, leaving behind a legacy of establishing robust sustainability strategies within the bank.

Mr. Culham acknowledged the contributions of outgoing leaders, including Victor Dodig, who has navigated the bank through transformative times. Looking ahead, Culham expresses confidence in the newly structured leadership team, saying, "We have a strong, highly connected and purpose-led team that is focused on making client ambitions real."

Through strategic investments and a commitment to innovation, CIBC aims to define the future of banking, fostering relationships built on trust, insight, and effective service delivery. With the combined experience and focus of its new leadership team, CIBC is poised to enhance the banking landscape in the future and maintain its reputation as a leading financial institution.

About CIBC: CIBC is a major North American financial institution with approximately 14 million clients across personal banking, business services, and wealth management. The bank's robust offerings and commitment to client satisfaction continue to position it as a dynamic service provider in the banking sector.