HONG KONG:Cathay Pacific has announced that its Chairman John Slosar is to retire, just weeks after its CEO Rupert Hogg and Chief Customer and Commercial Officer Paul Loo stepped down in the wake of the Hong Kong airport demonstrations.
The airline said Slosar will retire at the conclusion of the next board meeting on November 6.
He will be succeeded by Patrick Healy, who joined Cathay’s parent company Swire Group in 1988. He is currently MD of Swire Coca-Cola and also a Director of Swire & Sons (HK). In addition to heading Cathay Pacific, Healy (above) will become Chairman of Swire Coca-Cola.
Swire Pacific Chairman Merlin Swire said:”I would like to thank John for his tremendous contributions to the company over the past 39 years. Under his leadership as the Chief Executive Officer and then as Chairman, Cathay has built on its already enviable reputation for quality service and the extensive global network which underpins the success of Hong Kong as Asia’s largest international passenger hub.
“The three-year transformation programme now nearing completion leaves Cathay well-positioned for continued growth in the future.”
Immediately after the resignations of Hogg and Loo less than three weeks ago, Slosar said it was ‘time to put a new management team in place’ to renew confidence in the airline following the Hong Kong airport demonstrations by members of the public, during which the airline changed its stance from allowing staff to participate to threatening to sack those who did.
Today Slosar said: “Being the Chairman of Cathay Pacific has been the greatest of privileges for me. I would like to thank the entire Cathay team for their support, commitment and friendship during my years as part of that team. They are always at their best in challenging times, when their dedication really shines through.”
He continued: “Pat is a strong and experienced executive, having successfully led a number of different Swire businesses. He is creative and customer-focused, and I am sure he will lead Cathay Pacific to new heights.”
Slosar said: “Being the chairman of Cathay Pacific has been the greatest of privileges for me.
“I would like to thank the entire Cathay team for their support, commitment and friendship during my years as part of that team.
“They are always at their best in challenging times, when their dedication really shines through.”
Healy will also assume the role of chairman of Swire Coca-Cola and retain responsibility for the group’s worldwide beverages business.
“Cathay Pacific has been Hong Kong’s home carrier for over seven decades,” he said.
“Despite current challenges, I am confident in the future of Hong Kong and Cathay Pacific will remain fully committed to this great city as Asia’s key aviation hub.”