HongKong carrier CathayPacific announces shock resignation of CEO Rupert Hogg
HONG KONG - Cathay Pacific announced the shock resignation on Friday of its chief executive officer Rupert Hogg, days after the Hong Kong carrier was censured by Beijing because some staff had supported pro-democracy protests in the city.
Cathay also said Mr Paul Loo had resigned as chief customer and commercial officer, and will be replaced by Mr Ronald Lam, the head of its low-cost arm Hong Kong Express. After Cathay staff took part in strikes and protests, China’s aviation regulator levied a swathe of curbs on the airline, which is increasingly reliant on mainland traffic. Chinese state-owned companies have started boycotting Cathay, telling their workers not to fly with the carrier. The company was also excoriated by the nation’s biggest bank, sending its shares to a 10-year low on Tuesday.
Mr Hogg took the helm at the 72-year-old carrier just over two years ago, tasked with one of the toughest turnaround jobs in Asian commercial aviation. He was previously an executive with the Swire Group, the Hong Kong conglomerate and Cathay’s largest shareholder.Once a dominant player in Asia’s premium air travel market with few serious rivals, Cathay brought in Mr Hogg in 2017 after the airline reported its first loss in eight years.
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