|FOR IMMEDIATE RELEASE||12 April 2017|
John Slosar, Chairman of Swire Pacific Limited and Cathay Pacific Airways Limited, today announced senior management changes in the group.
Ivan Chu, Chief Executive of Cathay Pacific, will be appointed Chairman of John Swire & Sons (China) Limited with effect from 1st May 2017. He will play a leading role in the Swire group's overall Mainland China investment and development strategy. Ivan will step down as Chief Executive of Cathay Pacific and Chairman of Hong Kong Dragon Airlines Limited (Cathay Dragon) but will remain on the boards of Cathay Pacific as a Non-executive Director and Swire Pacific.
Rupert Hogg, Chief Operating Officer of Cathay Pacific, will be promoted to the position of Chief Executive Officer, Cathay Pacific, with effect from 1st May 2017. Rupert will lead the airline through its three-year corporate transformation programme with the aim of becoming more agile and competitive in the challenging market place. Rupert will become the Chairman of Cathay Dragon and will remain the chairman of the executive committee of Cathay Dragon.
Paul Loo, Director Corporate Development & IT of Cathay Pacific, will be appointed the Chief Customer and Commercial Officer of Cathay Pacific with effect from 1st June 2017. Reporting to the Chief Executive Officer of Cathay Pacific, Paul will be responsible for all customer and commercial related activities of the airlines.
Greg Hughes, Group Director Components & Engine Services of Hong Kong Aircraft Engineering Company Limited (HAECO), will be appointed the Chief Operations and Service Delivery Officer of Cathay Pacific with effect from 1st June 2017. Reporting to the Chief Executive Officer of Cathay Pacific, Greg will be responsible for all operational activities (including flight operations, engineering and service delivery).
Algernon Yau, Chief Executive Officer of Cathay Dragon, will be appointed Director Service Delivery of Cathay Pacific with effect from 1st June 2017, reporting to the Chief Operations and Service Delivery Officer, and will remain the Chief Executive Officer of Cathay Dragon. Algernon will be responsible for all service delivery aspects of the airlines and for most of the Cathay Pacific group's subsidiary businesses.
Commenting on the moves, Mr. Slosar paid tribute to Mr. Chu's leadership at Cathay over the last six years, the first three years as Chief Operating Officer, the final three years as Chief Executive.
"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."
"I look forward to working closely with Ivan in his new role as Chairman of John Swire & Sons (China). He brings a wealth of experience doing business in China to that role and to our substantial portfolio of companies and ventures embracing aviation, property, beverages, cold storage, retail and food businesses in Mainland China."
"For example, Swire Properties' joint venture mixed-use property development in the Jingan District of Shanghai is opening in phases; Swire Beverages' recent acquisition of additional franchise rights to distribute Coca-Cola beverages in Mainland China; Swire's expanding network of cold storage businesses; our bakery business in western China; and of course our airlines operating in Mainland China."
"We have always been bullish about the future development of Mainland China and remain so today. We certainly intend to continue to seek out business opportunities in the Mainland and Ivan will have a very important role in helping us to build on our already substantial commitments there."
Mr. Slosar also welcomed the appointment of Rupert Hogg to succeed Mr. Chu as Cathay Pacific Chief Executive Officer. "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. Rupert, Paul Loo and Greg Hughes will bring expertise, plenty of energy and 64 years of aviation experience between them to the implementation of our transformation strategy."
Michelle Low, Finance Director of Swire Properties Limited, will be appointed the Finance Director of Swire Pacific with effect from 1st October 2017. Michelle will replace Martin Cubbon, who will be retiring from the Swire group at the end of September.
Fanny Lung, Group Director Finance of HAECO, will be appointed the Finance Director of Swire Properties, replacing Michelle Low with effect from 1st October 2017.
Rebecca Sharpe, Finance Director of The China Navigation Company Pte. Limited, will be appointed the Group Director Finance of HAECO, replacing Fanny Lung with effect from 1st October 2017.
Chris Gibbs, Engineering Director of Cathay Pacific, will be appointed Group Director Components & Engine Services of HAECO, replacing Greg Hughes with effect from 1st June 2017.
Mr. Slosar also thanked Martin Cubbon for his outstanding services to the group and wished him well for the future upon his retirement."Martin has had a very distinguished Swire career. He was the architect of Swire Properties going public in 2012 and he very successfully led Swire Properties between 2009 and 2014, when key developments were opened in Guangzhou and Beijing. As Swire Pacific Finance Director, he played an important role in the transactions which created our strategic partnership with Air China and brought Cathay Dragon fully back to the Cathay family in 2006."
For further information, please contact:
Cindy Cheung, Head of Group Public Affairs, Swire Pacific Limited
Tel: (852) 2840 8091 / (852) 9038 8495
Visit Swire Pacific's website at www.swirepacific.com
John Swire & Sons (China) Limited
John Swire & Sons (China) Limited
Ivan Chu joined the John Swire & Sons Limited ("Swire") group in 1984 and has worked with the group in Hong Kong, Mainland China, Taiwan, Thailand and Australia. He has been a Director of Cathay Pacific since March 2011 and a Director of John Swire & Sons (H.K.) Limited ("JSSHK") and Swire Pacific since March 2014. He served as Chief Operating Officer of Cathay Pacific from March 2011 to March 2014 and has served as Chief Executive of Cathay Pacific since March 2014. He holds a Bachelor of Social Science degree from the University of Hong Kong and a Master of Commerce degree from the University of New South Wales.
Cathay Pacific Airways Limited
Chief Executive Officer-designate
Rupert Hogg joined the Swire group in 1986 and has worked with the group in Hong Kong, Southeast Asia, Australia and the United Kingdom. He has been a Director of Cathay Pacific since March 2014 and a Director of JSSHK since December 2014. He has served as Chief Operating Officer of Cathay Pacific since March 2014 and is also Chairman of AHK Air Hong Kong Limited and a Director and chairman of the executive committee of Cathay Dragon. He holds a Master of Arts degree in History from Edinburgh University.
Chief Customer and Commercial Officer-designate
Paul Loo has been Director Corporate Development & IT of Cathay Pacific since June 2016. He was appointed Director Corporate Development of Cathay Pacific in August 2015 and his responsibilities were extended to include information technology in June 2016. Before becoming Director Corporate Development, he was General Manager China of Cathay Pacific. He joined Cathay Pacific in 1991 and has worked with Cathay Pacific in Hong Kong, Mainland China, Japan, the Middle East, the Philippines and Taiwan. He holds a Bachelor of Applied Science degree in Engineering from the University of Toronto and a Master of Business Administration degree from the University of Michigan.
Chief Operations and Service Delivery Officer-designate
Greg Hughes joined the Swire group in 1987 and worked with Cathay Pacific in Hong Kong, Korea, Indonesia, Japan and Australia from October 1989 to August 2009. He was seconded to John Swire & Sons Pty. Limited, Australia in August 2009, where he served as Commercial Director from August 2009 and also as Chief Operating Officer from August 2010 until September 2015. He has been a Director and has served as Group Director Components & Engine Services of HAECO since September 2015. He holds a Bachelor of Arts degree in Law from the University of Sydney.
Chief Executive Officer, Cathay Dragon, and
Director Service Delivery-designate, Cathay Pacific
Algernon Yau has been Chief Executive Officer of Cathay Dragon since 2014 and he has responsibility for overseeing the business and operations of a number of Cathay Pacific's subsidiaries, including Cathay Pacific Services Limited, Vogue Laundry Service Limited, Hong Kong Airport Services Limited and Shanghai International Airport Services Company Limited. He joined Cathay Pacific in 1982 and has considerable experience working in the commercial aviation field.
Swire Pacific Limited
Michelle Low is currently Finance Director of Swire Properties Limited. She joined the Swire group in 1987 and has held a number of financial management positions in Hong Kong. Before taking up her current role, Ms Low was Finance Director of HAECO. She has also been Finance Director of Swire Pacific's Trading & Industrial Division and of The China Navigation Company Limited.
Swire Properties Limited
Fanny Lung is currently Group Director Finance of HAECO. She was appointed Director Finance of HAECO in August 2010. She was previously Finance Director of Swire Pacific Offshore Holdings Limited, a wholly owned subsidiary of Swire Pacific. She joined the Swire group in 1992.
Hong Kong Aircraft Engineering Company Limited.
Group Director Finance-designate
Rebecca Sharpe is currently Finance Director of The China Navigation Company. She joined the Swire group in 2008 and has held finance positions at Taikoo Engine Services (Xiamen) Company Limited, as General Manager Corporate Finance of Swire Pacific Limited and as General Manager Finance & Administration at Hong Kong Aero Engine Services Limited.
Group Director Components & Engine Services-designate
Mr. Christopher Gibbs, joined the Swire group in 1992. He has been a Director of HAECO and Engineering Director of Cathay Pacific since January 2007. He holds an honours degree in Aeronautical Engineering from Bristol University, a Master of Science degree in Aerospace Engineering from North Carolina State University and a Master of Business Administration degree from the London Business School.
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