06:24 AM EDT, 03/13/2025 (MT Newswires) -- Canadian Imperial Bank of Commerce ( CM ) said Thursday that Victor Dodig intends to retire as chief executive and president, effective Oct. 31.

The company has named Harry Culham as chief operating officer, effective April 1. Culham, who has experience of leading capital markets and other key areas of CIBC's businesses, will succeed Dodig as CEO and president, effective Nov. 1.

CIBC said Dodig will serve as a special adviser to Culham and its board from Nov. 1, 2025, through April 30, 2026.

The company's shares were up 2.1% in recent premarket activity.