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CIBC names Hunkin's successor

Last Updated: Wednesday, June 29, 2005 | 9:43 AM ET
CBC News

CIBC chief executive John Hunkin will retire from his post on Aug. 1 and be succeeded by Gerry McCaughey, the bank said Wednesday.

McCaughey, who is currently CIBC's president and chief operating officer, will also join the bank's board of directors.

The bank (TSX:CM) said McCaughey, 49, also served as chair and CEO of CIBC World Markets between February and December 2004, when he took on his current role.

Hunkin will retire after 36 years of service at the CIBC. He has been CEO since 1999.