CIBC announced senior leadership appointments to its Group Executive Leadership Team that will position the bank for the future and further accelerate the execution of its client-focused strategy as Harry Culham assumes the role of President and CEO Nov. 1, 2025.

"Across CIBC, we are accelerating our momentum by delivering on our client-focused strategy and by fostering a purpose-led, connected culture, which starts with our leadership team and extends to every corner of our bank," said Culham. "Our strategic investments and our people have enabled our growth, and the changes we're announcing today will help position us for the future. Each of these leaders brings exceptional experience, a proven track record of performance and exemplifies our purpose-led and collaborative culture."

Christian Exshaw will be appointed Senior Executive Vice-President and Group Head, Capital Markets. In this role, he will have accountability for Capital Markets globally. He was appointed to an expanded role as Deputy Head of Capital Markets in 2024, leading CIBC's Global Markets, Global Corporate and Global Investment Banking teams.

"From his early days on the trading floor to his many years in key leadership roles across Capital Markets, Christian is known for his clear focus on our clients, execution, innovation and bringing a growth mindset to our bank," said Culham.

Kevin Li will be appointed Senior Executive Vice-President and Group Head, U.S. Region; President and CEO, CIBC Bank USA. He is currently Managing Director and Head, Global Investment Banking, and was previously Head of CIBC in Europe, and has held various senior roles in Canada. He first joined CIBC in 1994 and has been based in Chicago since 2018.

"Kevin has consistently brought a strong client focus and disciplined approach to growing our business across borders," said Culham. "Drawing on his deep relationships in the U.S., Canada and Europe, he will provide exceptional leadership for our U.S. team."

Christina Kramer will be appointed Senior Executive Vice-President and Chief Administrative Officer (CAO), CIBC. She will continue to lead CIBC's Technology, Infrastructure and Innovation group, and adds accountability for Corporate Governance, Client Complaints, Environment, Social and Governance (ESG), as well as CAO teams across the enterprise.

"A trusted leader, Christina brings tremendous leadership and deep experience, drawing on strategic and operational capabilities that have served our bank well over the course of her career," said Culham.

Hratch Panossian, Senior Executive Vice-President and Group Head, Personal and Business Banking, continues in his current role and will expand his mandate to include contact centres and client marketing.

"Under Hratch's leadership, our retail bank has continued to build strong momentum," said Culham. "His strategic perspective, client-centred approach, and commitment to innovation, modernization and digitization are enabling our team to attract new clients to our bank, deepen relationships and grow our Personal and Business Banking franchise."

Susan Rimmer, Senior Executive Vice-President and Group Head, Commercial Banking and Wealth Management, continues in her current role leading this strategic business unit in Canada and will add oversight of CIBC Caribbean.

"Susan exemplifies our client-focused, highly connected approach to serving our clients," said Culham. "Under her leadership our team in the Caribbean will further our momentum in deepening client relationships and building connectivity across our bank."

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.

"Amy is a proven leader with extensive experience, and she will continue to play an important role in enabling our connectivity and building strong client relationships across our bank," said Culham.

Stephen Scholtz will be appointed Global Chief Legal Officer. He was most recently General Counsel, Canada. Scholtz has held progressively more senior roles in Legal during his almost 20-year career with CIBC, as well as at leading legal firms prior to joining the bank.

"Stephen is a respected leader on our team, and he is well positioned to take on the leadership of our legal affairs globally," said Culham. "His expertise across various facets of legal and wise counsel will be an asset as he steps into his new role."

Alongside these leaders, the following executives will continue in their roles as part of the company's Group Executive Leadership Team, providing further continuity and strong execution of our client-focused strategy:

• Frank Guse, Senior Executive Vice-President and Chief Risk Officer
• Robert Sedran, Senior Executive Vice-President and Chief Financial Officer and Enterprise Strategy
• Sandy Sharman, Senior Executive Vice-President and Group Head, People, Culture and Brand

In addition to these appointments, the following leaders will be retiring from CIBC:

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 Nov. 1, 2025 to ensure a smooth leadership transition. Prior to his current role, he served as Chief Risk Officer, and previously held senior roles with CIBC including General Counsel, head of Strategy and Corporate Development, and head of U.S. Capital Markets.

"During his tenure, Shawn has brought deep expertise and knowledge of both financial services and our bank," said Culham. "He has been instrumental in our progress in the U.S., ensuring that we have a strong, diversified cross-border platform and a disciplined, risk controlled approach to growing the business."

Kikelomo Lawal, Executive Vice-President and Chief Legal Officer will retire from CIBC. In her role, she oversaw Legal, Corporate Governance, Client Complaints, Government Relations as well as leading the development of the bank's enterprise ESG strategy.

"Kikelomo is an accomplished leader and legal professional, and she has been instrumental in building and embedding sustainability into our operations, which will help guide our efforts for years to come," said Culham. 

"We have a strong, highly connected and purpose-led team that is focused on making client ambitions real and executing our strategy every day," said Culham. "Building on the continuity and depth of our leadership team, I'm looking forward to working closely with each of these senior leaders in their new and expanded roles, as well as our entire leadership team as we further our momentum. I would also like to recognize and thank Jon Hountalas, Vice-Chair, North American Banking, who announced his retirement earlier this year after 15 years with CIBC and 40 years in Financial Services, for his many contributions to our bank and his deep commitment to our clients."

"On behalf of our entire CIBC team, I want to recognize Victor (Dodig, company President and CEO, who previously announced plans to retire in October 2025) for his continued strong leadership throughout the transition," added Culham. "Together, we've had the opportunity to engage directly with clients, our team, investors, and members of the community in every market we operate in. The continuity he has provided and the collective focus we see in our experienced leadership team has been integral to a smooth transition, and will serve as a strong foundation as we go forward."