CIBC Names Bill Morneau Board Chair, Succeeding Katharine Stevenson

Canadian Imperial Bank of Commerce (CM.TO) said Friday it appointed Bill Morneau as Chair of its Board of Directors, effective January 1, 2027. He succeeds Katharine Stevenson, who retires from the board on December 31 after six years as Chair and 10 years as an independent director. Morneau, a CIBC independent director since 2022, currently chairs the board's Corporate Governance Committee and sits on the bank's U.S. Board. The former Canadian finance minister and Member of Parliament, who served from 2015 to 2020, will step into the role as CIBC's shares closed Thursday at CAD 166.22, up 0.98% on the Toronto Stock Exchange.