Canadian Imperial Bank of Commerce Senior Executive Vice President and CFO Kevin Glass will retire Jan. 1, 2020.
Glass will stay on as CFO until Oct. 31, and then will be a special adviser until his retirement. The Canadian banking giant named Hratch Panossian, executive vice president, global controller and investor relations, to succeed Glass on Nov. 1.
In addition, Senior Executive Vice President and Group Head of Technology and Operations Kevin Patterson will retire May 1, 2020.
The bank also named Deepak Khandelwal senior executive vice president and chief client experience officer, and Shawn Beber as senior executive vice president, general counsel and corporate development, with both appointments effective Sept. 3. Beber was most recently CIBC's general counsel and he also previously led the U.S. capital markets division and the corporate strategy function.
CIBC's board declared a dividend of C$1.44 per common share, an increase from the previous issuance of C$1.40 per common share. It will be paid Oct. 28 to shareholders of record as of Sept. 27.
