Royal Bank of Canada says Jacynthe Côté will be appointed as chair of the bank's board of directors next year.

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The bank says Côté will take over the role effective upon her re-election as an independent director at RBC's annual meeting on April 5, 2023.

Kathleen Taylor, who has served as chair since 2014, will retire.

Côté, an independent director of RBC since 2014, has served on the audit, governance and risk committees, and has been chair of the governance committee since 2018.

She is currently chair of Hydro‑Québec and will complete her term in May 2023.

Côté, a former president and chief executive of Rio Tinto Alcan, is also a member of the board at Finning International Inc. and Transcontinental Inc.

This report by The Canadian Press was first published Dec. 1, 2022.