Cathay Pacific operations chief Rupert Hogg to replace Ivan Chu as CEO in management shake-up
The company last year reported a loss of HK$575 million (US$74 million), and has been struggling as a premium airline in the face of stiff competition
Cathay Pacific Airways will replace Ivan Chu Kwok-leung, its chief executive for three years, with chief operating officer Rupert Hogg on May 1, Hong Kong’s loss-making flagship carrier announced on Wednesday.
Hogg takes over as CEO at a time when the airline is undergoing a major overhaul of its business after reporting a loss of HK$575 million last year.
Cathay has been struggling as a premium airline in the face of stiff competition from new aviation players, including budget and Middle East carriers.
The Post broke the news on Wednesday afternoon as hundreds of Cathay staff gathered at the airline’s Lantau headquarters for a sudden town hall meeting. The leadership reshuffle was announced at the meeting after the stock market closed at 4:30pm.
John Slosar, chairman of parent company Swire Pacific, paid tribute to Chu, who will remain with the Swire Group and shift to its mainland business as chairman of John Swire & Sons (China).