The former boss of Johnnie Walker whisky and Guinness maker Diageo (LON:DGE) is joining the board of HSBC (LON:HSBA).
The banking group said Diageo's chief executive between 2000 and 2013, Paul Walsh (60), would become one of its independent non-executive directors on January 1.
Walsh is also chairman of catering group Compass and satellite telecoms group Avanti Communications and is a non-executive director of parcel courier FedEx.
HSBC also said deputy chairman Simon Robertson will retire at its 2016 annual meeting, when non-executive director Rona Fairhead will also step down.
Fairhead will hand over her responsibilities as chairman of HSBC North America to Heidi Miller at the end of 2015. Safra Catz will stand down at the end of 2015.
Fairhead and Robertson are HSBC's longest serving non-executive directors having served for close to 12 and 10 years respectively, whilst Catz has served on the board for nearly eight years.
HSBC also said Henri de Castries (61) would join the board on March 1 next year. De Castries has been chairman and chief executive of insurance group AXA since April 2010.
HSBC group chairman Douglas Flint said: "We are truly sad to be losing three such experienced directors.
"The appointments of Henri de Castries and Paul Walsh bring substantial additional strength to the HSBC board. Their extensive international business experience and track record in shaping growing businesses, including undertaking business portfolio realignments, will further strengthen the existing skills on the board."
After the changes, the board will comprise of 14 independent non-executive directors together with the three executive directors and a full-time chairman.