Dodig will remain on board as special adviser to incoming CEO Harry Culham and the board until April 30, 2026. Culiham is to take the CEO position on Nov. 1.

Canadian Imperial Bank of Commerce closed 16.7% below its 52-week high of C$95.50, which the company reached on December 11th.

Dodig, who has led the Canadian bank since 2014, will be succeeded by Harry Culham, CIBC's head of capital markets.

Shares of Canadian Imperial Bank of Commerce CM inched 0.79% higher to C$80.43 Wednesday, in what proved to be an all-around favorable trading session for the Canadian market, with the S&P/TSX Composite Index GSPTSE rising 0.72% to 24,423.34.

Rhumbline Advisers raised its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM – Free Report) (TSE:CM) by 12.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission.

Bank stocks are sure to be long-term winners in Canada, but these three look ultra promising for investors. The post 3 Canadian Bank Stocks to Shield Against Market Downturns appeared first on The Motley Fool Canada.