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CEO Rupert Hogg resigns; also other top execs

CEO Rupert Hogg resigns; also other top execs

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Old Aug 16, 19, 2:58 am
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CEO Rupert Hogg resigns; also other top execs

pressure mounts

CX CEO resigned... and its announced thru chinese CCTV media first (donno if it got to exchange announcement first or not)
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Old Aug 16, 19, 2:59 am
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Originally Posted by fakecd View Post
pressure mounts

CX CEO resigned... and its announced thru chinese CCTV media first (donno if it got to exchange announcement first or not)
https://m.zjbyte.com/sbfp/finance/ar...85297104814606

Confirmed. No notice on hkexnews as of time of posting
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Old Aug 16, 19, 3:01 am
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CEO Rupert Hogg resigns; also other top execs

News just came out that CEO of CX resigned, as well as the Chief Customer and Commercial Officer. Only saw Chinese news now.

國泰航空董事局宣佈已接受何杲辭任行政總裁職務,以及盧家培辭任顧客及商務總裁職務。在今天的董事局會議上 ,鄧健榮被任命為行政總裁,林紹波被任命為顧客及商務總裁。
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Old Aug 16, 19, 3:06 am
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Ceo Rupert hogg resigns per the bbc

Hi

Per the BBC business page the ceo of cathay Pacific Rupert hogg has resigned

https://www.bbc.co.uk/news/live/business-49297158

Hopefully this link works as I am using my mobile

Regards

Tbs

Ah.

I have just seen it was also posted in the CX banned by china sort of thread below. Apologies

Tbs

Last edited by The _Banking_Scot; Aug 16, 19 at 3:13 am
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Old Aug 16, 19, 3:18 am
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Rupert Hogg resigns as CEO of Cathay Pacific Airways
https://www.scmp.com/news/hong-kong/...acific-airways

Replacement is Augustus Tang https://webb-site.com/dbpub/positions.asp?p=37676
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Old Aug 16, 19, 3:20 am
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Per SCMP: Paul Loo, the chief customer and commercial officer of Cathay, has also stepped down.
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Old Aug 16, 19, 3:23 am
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Originally Posted by fakecd View Post
pressure mounts

CX CEO resigned... and its announced thru chinese CCTV media first (donno if it got to exchange announcement first or not)
Someone in China didn't have a chance to write the exchange announcement before leaking it to the Chinese media first. At least it happened after market hours.

I guess the Swires were given an offer they couldn't refuse. I doubt we will see another non-Chinese run Cathay in the future.

official announcement: https://www1.hkexnews.hk/listedco/li...0190816434.pdf
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Old Aug 16, 19, 3:23 am
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Here's the announcement (17:14). Very scary CCTV gets to announce the resignation of CX CEO before CX itself or HK press can https://www1.hkexnews.hk/listedco/li...0190816434.pdf
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Old Aug 16, 19, 3:30 am
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Cathay Pacific is fully committed to Hong Kong under the principle of “One Country Two Systems” as enshrined in the Basic Law. The Company is confident that Hong Kong will have a great future.

What a [redacted by miderator] statement.


Seems Augustus Tang is a transaction CEO in this difficult period.
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Last edited by NewbieRunner; Aug 16, 19 at 4:32 am Reason: Rule 16
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Old Aug 16, 19, 3:37 am
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Paul Loo is also out according to SCMP’s article, though he should’ve been out ages ago.
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Old Aug 16, 19, 3:41 am
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Don't forget, John Flint (former HSBC CEO) was rumored to have been forced out too, as payback for HSBC's cooperation with the US over the Huawei arrest fiasco.
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Old Aug 16, 19, 3:50 am
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seems CCTV has it reported first, even before CX statement release
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Old Aug 16, 19, 3:55 am
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Unpublished. But I repost the article here:

国泰航空管理高层人事变动:接受何杲辞任行政总裁 卢家培辞任顾客及商务总裁

央视新闻

2分钟前 · 中央电视台新闻中心官方账号

国泰航空今日宣布以下管理高层人事变动,于二零一九年八月十九日生效:

——邓健荣将接替何杲出任行政总裁

——林绍波将接替卢家培出任顾客及商务总裁(林绍波将留任香港快运行政总裁,直至另行公布继任人 )

国泰航空董事局宣布已接受何杲辞任行政总裁职务,以及卢家培辞任顾客及商务总裁职务。在今天的董事局会议上 ,邓健荣被任命为行政总裁,林绍波被任命为顾客及商务总裁。董事局认为现在正是新领导层引领国泰航空前进的 最佳时机,邓健荣和林绍波曾出任国泰航空管理高层多年,具有丰富经验,是领导公司继续前进的最 理想人选。

国泰航空主席史乐山表示:邓健荣和林绍波具有丰富的业务经验,对航空业及公司员工亦拥有深入认知,有能力在 这关键时刻成为国泰航空强而有力的领导者。国泰航空以香港为家。这个世界级城市拥有一流的机场设施,是亚洲 最大的国际客运和货运枢纽。国泰航空秉持对安全和关怀标准的不懈追求,以及力争无与伦比的客户 服务美誉。

何杲表示:我深感荣幸能够于过去三年以行政总裁的身份带领国泰航空。我对香港未来作为亚洲主要航空输纽充满 信心。我和卢家培作为公司领袖,对国泰航空在过往数星期经历的挑战,理应承担责任。

史乐山补充道:何杲及其团队执行为期三年的企业转型策略,对国泰航空的復甦及持续发展建立了稳健的平台。然 而,最近所发生的事件令国泰航空对飞行安全和保安的承诺受到质疑,亦让我们的声誉和品牌受压。这让人十分遗 憾,因为安全和保安对我们来说至关重要。因此我们认为这是合适时机任命新的管理团队,重建信心以及带领国泰 航空再创高峰。国泰航空全力支持香港实行“基本法”赋予的“一国两制”原则。我们对香港的美好未来充满信心 。

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Old Aug 16, 19, 3:58 am
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Originally Posted by Michael So View Post
seems CCTV has it reported first, even before CX statement release
An extremely worrying development. And the fact that the CX release had to include a paragraph on "upholding the one country, two systems principle".
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Old Aug 16, 19, 4:04 am
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Originally Posted by CX HK View Post
Don't forget, John Flint (former HSBC CEO) was rumored to have been forced out too, as payback for HSBC's cooperation with the US over the Huawei arrest fiasco.
There seems to be countless rumours/conspiracy theories about why Flint went. Wasn't aware of the Huawei/Meng Wanzhou rumour though.

I suspect this will cause a spike in rally attendance on Sunday.
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