Cathay Pacific CEO steps down after three years

Cathay Pacific CEO steps down after three years

The boss of Cathay Pacific is stepping down after three years in charge to be replaced by the Hong-Kong-based airline’s chief operating officer.

Chief executive Ivan Chu has been appointed chairman of the airline’s holding company John Swire & Sons from May 1.

The airline’s COO Rupert Hogg is promoted to chief executive of Cathay Pacific and will lead a three-year transformation programme.

The aim is to enable the carrier to become “more agile and competitive in the challenging market place” after it fell into the red to the tune of HK$575 million ($74 million) last year – its first loss since 2008.

Other senior management changes include corporate development and IT director, Paul Loo, becoming chief customer and commercial officer from June 1, responsible for all customer and commercial activities.

Swire and Cathay Pacific chairman John Slosar said: “Ivan played a key role in the airline’s management during some very good times and, more recently, some difficult and challenging times.

“In response, he led the team in devising the three-year transformation strategy which will provide the platform for Cathay’s medium term recovery and continued development.

“The new senior management structure we have announced today is the fruit of that extensive work and we are confident that it can take Cathay Pacific to new heights.”

Slosar also welcomed the appointment of Rupert Hogg to succeed Chu.

“Rupert brings an impressive level of aviation and business experience to the job,” he said.

“He has played a major role as chief operating officer over the last three years and brings commercial focus and a spirit of innovation to our efforts to overcome the well-documented structural challenges facing the airline. He is the right man to lead our team.”

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