Cathay Pacific Chairman Slosar resigns, to get replaced by Swire exec

FILE PHOTO: Cathay Pacific Group Chairman John Slosar attends a information convention on the service's annual ends in Hong Kong, China March 14, 2018. REUTERS/Bobby Yip/File Photograph

SINGAPORE (Reuters) – Hong Kong’s Cathay Pacific Airways (0293.HK) mentioned on Wednesday that its Chairman John Slosar had resigned from the board and shall be changed by Patrick Healy, a long-time govt on the airline’s prime shareholder Swire Pacific Ltd (0019.HK).

The resignation of Slosar, 63, follows the departure of CEO Rupert Hogg final month, after the Chinese language aviation regulator elevated scrutiny on the airline and its workers members following anti-government protests in Hong Kong.

Hogg was changed by Augustus Tang, who had beforehand headed Swire’s plane upkeep firm.

The departure of Slosar, a former Cathay CEO, and the appointment of Healy will take impact after Cathay’s Nov. 6 board assembly, the service mentioned in a press release.

In a submitting to the inventory trade, Cathay mentioned Slosar “confirmed that his resignation is because of his retirement and that he’s not conscious of any disagreement with the Board of the Firm.”

The airline has turn into the largest company casualty of the protests after China demanded it droop workers concerned in, or who assist, the demonstrations which have plunged the previous British colony right into a political disaster.

Cathay final month mentioned ahead bookings had declined sharply because of the unrest.

“Regardless of present challenges, I’m assured in the way forward for Hong Kong and Cathay Pacific will stay absolutely dedicated to this nice metropolis as Asia’s key aviation hub,” Healy, 53, mentioned in a press release.

(This story corrects paragraph four to say modifications will take impact after board assembly, not at annual assembly).

Reporting by Jamie Freed; Enhancing by Muralikumar Anantharaman

Author: Maxwell C.

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