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

(RTTNews) - 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.