CIBC Announces Executive Changes Ahead of New CEO Arrival

CIBC is making executive changes ahead of new CEO Harry Culham's arrival in November. Shawn Beber and Kikelomo Lawal will retire, while Kevin Li will take over the US region and Christian Exshaw will head global investment banking. Hratch Panossian and Susan Rimmer will expand their roles, and Robert Sedran and Frank Guse will continue as CFO and CRO, respectively. The changes are aimed at positioning the bank for the future.

Canadian Imperial Bank of Commerce (CIBC) has announced significant changes to its senior executive leadership team in preparation for the arrival of new President and CEO Harry Culham in November. The appointments and retirements are aimed at positioning the bank for future growth and strengthening its client-focused strategy.

Mr. Culham, who will assume the role of CEO on November 1, 2025, has emphasized the importance of fostering a purpose-led, connected culture within the bank. He highlighted that the leadership changes will help accelerate the execution of CIBC's client-focused strategy.

Key appointments include:

- Christian Exshaw will be appointed Senior Executive Vice-President and Group Head, Capital Markets. He has previously held roles such as Deputy Head of Capital Markets and has a proven track record in leading CIBC's Global Markets, Global Corporate, and Global Investment Banking teams [1].
- Kevin Li will be appointed Senior Executive Vice-President and Group Head, U.S. Region; President and CEO, CIBC Bank USA. He brings extensive experience, having previously held senior roles in Europe and Canada, and has been based in Chicago since 2018 [1].
- Christina Kramer will be appointed Senior Executive Vice-President and Chief Administrative Officer (CAO). She will continue to lead CIBC's Technology, Infrastructure, and Innovation group and add accountability for Corporate Governance, Client Complaints, Environment, Social, and Governance (ESG), and CAO teams across the enterprise [1].
- Hratch Panossian will continue as Senior Executive Vice-President and Group Head, Personal and Business Banking, and expand his mandate to include contact centres and client marketing [1].
- Susan Rimmer will continue as Senior Executive Vice-President and Group Head, Commercial Banking and Wealth Management, and will add oversight of CIBC Caribbean [1].
- Amy South will be appointed Executive Vice-President, Office of the CEO and Chief of Staff. Her responsibilities will include the Strategic Client Office, Government Relations, CIBC's Economics group, and oversight of CIBC Mellon [1].
- Stephen Scholtz will be appointed Global Chief Legal Officer. He brings extensive legal experience, having held progressively more senior roles in Legal during his almost 20-year career with CIBC [1].

Notable retirements include:

- Shawn Beber, Senior Executive Vice-President and Group Head, U.S. Region; President and CEO, CIBC Bank USA, will retire from the bank after 23 years on July 1, 2026, and will be appointed as Special Advisor on November 1, 2025 [1].
- Kikelomo Lawal, Executive Vice-President and Chief Legal Officer, will retire from CIBC [1].

The changes are part of CIBC's ongoing efforts to accelerate its momentum and deliver on its client-focused strategy. The bank's leadership team will continue to provide continuity and strong execution of the strategy, with key executives such as Frank Guse (Chief Risk Officer) and Robert Sedran (Chief Financial Officer and Enterprise Strategy) continuing in their roles [1].

References:
[1] https://www.prnewswire.com/news-releases/cibc-announces-senior-executive-leadership-changes-302527642.html