Mr Cruz will go only when Mr Walsh decides it is more damaging to Mr Walsh if he stays than if he goes. The already noted conspicuous absence of Mr Walsh in all this is quite interesting.
Regarding Mr Hogan, it's a bit naive to think he was solely responsible for all those poor investment decisions, given the connections between politics and business in such a state owned enterprise. However, as with Mr Cruz, he should have known what he was getting into, and what would happen if/when things went badly, so little sympathy there. Couldn't see him in the current IAG.