Breaking News: CIBC’s Victor Dodig Steps Down, Replacement Named

Top Leadership Transition at CIBC

A new era is on the horizon for the Canadian Imperial Bank of Commerce (CIBC) as President and CEO Victor Dodig prepares to retire this upcoming fall. Stepping into his shoes will be Harry Culham, who will also take on the role of Chief Operating Officer starting April 1.

Key Points to Note:

1. Dodig’s Legacy:
   Victor Dodig has been at the helm of CIBC since September 2014, guiding the bank with a strategic focus on client relationships, financial strength, innovation, sustainability, and community engagement. Under his leadership, CIBC made significant strides in various areas that laid a strong foundation for the bank’s future growth.

2. Accomplishments under Dodig:
   During Dodig’s tenure, CIBC successfully completed notable acquisitions, including PrivateBancorp, Inc. and Costco’s Canadian credit card portfolio. The acquisition of Costco’s credit card portfolio alone brought over two million clients to CIBC, with a significant number of mass affluent and business banking clients joining the bank’s fold.

3. The New Leadership:
   With Harry Culham set to take the reins from Dodig, CIBC’s board of directors is confident in the succession plan. Culham, who has demonstrated exceptional leadership skills in various roles within CIBC, is well-positioned to lead the bank into the future. His client-centric approach, inclusive leadership style, and consistent track record of performance make him the ideal candidate to build upon the bank’s current momentum.

Victor Dodig will transition into a special advisory role to Culham after his retirement on November 1, ensuring a smooth handover of responsibilities and knowledge transfer between the outgoing and incoming executives.

As CIBC embarks on this leadership transition, the bank remains committed to its core values and goals, poised for continued growth and success in the ever-evolving financial landscape.

In conclusion, the leadership handover at CIBC marks a significant milestone in the bank’s history, signifying a seamless transition towards a promising future under the capable guidance of Harry Culham. May this new chapter bring forth continued prosperity and success for CIBC and all its stakeholders.

This press release was originally published by The Canadian Press on March 13, 2025.