cx828
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Cathay Pacific CEO Rupert Hogg resigns

Fri Aug 16, 2019 9:23 am

As per BBC Cathay Pacific boss resigns as ceo

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

Paul Loo, the chief customer and commercial officer of Cathay who was one of Hogg’s deputies, has also stepped down.

Tang, Augustus Kin Wing will be the new CEO

https://www1.hkexnews.hk/listedco/listc ... 816434.pdf
 
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TheFlyingDisk
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Re: Cathay Pacific ceo Rupert hogg resigns

Fri Aug 16, 2019 9:51 am

Obviously Augustus would be toeing the big dragon lady's line.
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Luftymatt
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Re: Cathay Pacific ceo Rupert hogg resigns

Fri Aug 16, 2019 10:04 am

TheFlyingDisk wrote:
Obviously Augustus would be toeing the big dragon lady's line.


Exactly, it looks like Mr Hogg is being made a scapegoat off. It's also in line with Cathay replacing staff in high up positions with Chinese.
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Virtual737
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Re: Cathay Pacific ceo Rupert hogg resigns

Fri Aug 16, 2019 10:50 am

"Hogg said these had been "challenging weeks" and it was right for him and Loo to take responsibility as leaders."

I can think of at least one other industry chief who might want to take that on board.
 
tonystan
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Re: Cathay Pacific ceo Rupert hogg resigns

Fri Aug 16, 2019 11:24 am

Well this reeks of the “Peoples Republic”!
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bennett123
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Re: Cathay Pacific ceo Rupert hogg resigns

Fri Aug 16, 2019 11:43 am

I imagine that going forward any CX staff supporting the protests will be straight under the bus.
 
PlymSpotter
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Re: Cathay Pacific ceo Rupert hogg resigns

Fri Aug 16, 2019 11:47 am

Not unexpected, but still somewhat concerning. Underhand government intervention is never a good thing.
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commpilot
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Re: Cathay Pacific ceo Rupert hogg resigns

Fri Aug 16, 2019 12:04 pm

PlymSpotter wrote:
Not unexpected, but still somewhat concerning. Underhand government intervention is never a good thing.


Especially when it's comes to major Chinese companies that are forced into joining the party or you don't operate. Everything is state run one way or another.
 
9w748capt
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Re: Cathay Pacific ceo Rupert hogg resigns

Fri Aug 16, 2019 1:49 pm

Wow. Hong Kong as they knew it is gone. Done.
 
scootaway
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Re: Cathay Pacific ceo Rupert hogg resigns

Fri Aug 16, 2019 1:57 pm

Please welcome Air China Hong Kong
 
USAirALB
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Re: Cathay Pacific ceo Rupert hogg resigns

Fri Aug 16, 2019 1:58 pm

I personally wouldn't read too much into this, even considering the recent events in Hong Kong. Swire is still the majority stakeholder in CX.

I was always under the impression that Hogg wasn't necessarily well liked among CX crews, at least according to a friend of mine who works for CX. Augustus Tang has a long history at Swire/CX, and seems fit for the position. I am more concerned that a Hong Kong Express LCC exec is climbing the ranks of CX, and may be responsible for more cost-cutting.

If I woke up tomorrow and saw that Swire was selling its stake to Air China, then I would be concerned.
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KLMatSJC
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Re: Cathay Pacific ceo Rupert hogg resigns

Fri Aug 16, 2019 2:28 pm

Does this mean we might see the return of CX special schemes?
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seansasLCY
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Re: Cathay Pacific ceo Rupert hogg resigns

Fri Aug 16, 2019 2:32 pm

KLMatSJC wrote:
Does this mean we might see the return of CX special schemes?


That's seriously your priority right now with CX and HKG? I doubt CX will both with major promotions until things settle down and they can then run a campaign to promote HKG again.

However, at the moment, the people of HKG have other things to deal with.
 
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LAXintl
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Re: Cathay Pacific CEO Rupert Hogg resigns

Fri Aug 16, 2019 2:59 pm

Imo a good move.

The airline has unfortunately been negatively embroiled and its staff directly associated with criminal protest, so a significant move was needed to reset things and help rebuild trust and confidence.

Letter to employees.

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mercure1
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Re: Cathay Pacific CEO Rupert Hogg resigns

Fri Aug 16, 2019 3:13 pm

Pretty clear big changes were on the way since the CX chairman and Swire Group CEO both largely echoed CAAC concerns about the commitment to safety and security at the airline. That was a pretty clear shot against the airlines' management team.


USAirALB wrote:
. I am more concerned that a Hong Kong Express LCC exec is climbing the ranks of CX, and may be responsible for more cost-cutting.


Up until 1-month ago, he was at CX. He was only was appointed HK Express CEO in July when the deal closed.
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ITSTours
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Re: Cathay Pacific CEO Rupert Hogg resigns

Fri Aug 16, 2019 3:16 pm

Air China owns 29.99% of Cathay so...
 
PlymSpotter
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Re: Cathay Pacific ceo Rupert hogg resigns

Fri Aug 16, 2019 3:22 pm

KLMatSJC wrote:
Does this mean we might see the return of CX special schemes?


Perhaps. I hear they are planning a series of Winnie-the-Pooh logojets to commemorate China's intervention in HKG

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UPlog
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Re: Cathay Pacific CEO Rupert Hogg resigns

Fri Aug 16, 2019 3:27 pm

This will be a good business school study of about management team with their head in the sand.

Classic example of management failing to grasp the importance of events and the larger world around them.

CX simply responded way with too little and way too late in being dragged into a political fire storm by some rogue staff. Simply sitting by or thinking things will blow over was obviously a terrible move. CX operates and largely owes its existence to serving China. You'll get burned by waking the dragon.
 
reply1984
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Re: Cathay Pacific CEO Rupert Hogg resigns

Fri Aug 16, 2019 3:42 pm

ITSTours wrote:
Air China owns 29.99% of Cathay so...


Well...The Air China's shares can be traced back to Cathay Pacific acquiring Dragon Air in 2006. There is also an agreement between Swire and CA and it sets strict restrictions for CA (e.g. CA cannot buy any CX shares/ buy any other local airlines unless they get approved by the board of CX; Swire can appoint the chairman of the board and can nominate enough directors so that Swire can control the board, etc).

Now two directors of CX have resigned and another two managers fill their positions, but these two new directors are still from Swire. It seems that Swire still controls CX.
 
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SQ32
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Re: Cathay Pacific CEO Rupert Hogg resigns

Fri Aug 16, 2019 3:47 pm

It is not as if the Swire are popular in China, but contrary. The Swire are barely tolerated and Chinese intellects still remember gen1-Swire made the fortune by pushing opium to Chinese. This was evidenced by an almost comprehensive ban against Cathay to most Chinese cities earlier.

In 1996, CITIC Pacific increased its holdings in Cathay Pacific from 10% to 25%, while the Swire Group holding was reduced to 44% as two other Chinese companies, CNAC(G) and CTS, also bought substantial holdings.

The Chinese stake in Cathay protected the Swire and Cathay as they and China now have some interest in common.

But the relationship is never really good. For the past few months, China concern about Swire is fully confirm when Cathay managers failed to take adequate actions against staffs who participated in anti China protests.
Last edited by SQ32 on Fri Aug 16, 2019 4:00 pm, edited 3 times in total.
 
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zeke
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Re: Cathay Pacific CEO Rupert Hogg resigns

Fri Aug 16, 2019 4:03 pm

The news comes as a surprise to me, Mr Hogg was a very good boss, fair and balanced to his employees and a very good leader. Under his leadership he turned the airline around and delivered very strong first half results. I have always found Mr Hogg to one of strong integrity and ethics, something which is hard to hard in leadership of large organizations these days.

I wish him good fortune in the future and good health to him and his family.
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ER757
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Re: Cathay Pacific CEO Rupert Hogg resigns

Fri Aug 16, 2019 4:30 pm

zeke wrote:
The news comes as a surprise to me, Mr Hogg was a very good boss, fair and balanced to his employees and a very good leader. Under his leadership he turned the airline around and delivered very strong first half results. I have always found Mr Hogg to one of strong integrity and ethics, something which is hard to hard in leadership of large organizations these days.

I wish him good fortune in the future and good health to him and his family.

And I wish you and your co-workers at CX the same - hope things settle down
 
sonicruiser
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Re: Cathay Pacific CEO Rupert Hogg resigns

Fri Aug 16, 2019 4:37 pm

zeke wrote:
The news comes as a surprise to me, Mr Hogg was a very good boss, fair and balanced to his employees and a very good leader. Under his leadership he turned the airline around and delivered very strong first half results. I have always found Mr Hogg to one of strong integrity and ethics, something which is hard to hard in leadership of large organizations these days.

I wish him good fortune in the future and good health to him and his family.


Very well said. I hope to see CX emerge stronger from all of this once this few weeks are done and dusted.
 
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Revelation
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Re: Cathay Pacific CEO Rupert Hogg resigns

Fri Aug 16, 2019 5:04 pm

Part of the fat pay packets and golden handshake retirement packages that CEOs get is the need to be the fall guy when things go bad, even when they are outside of their control.

A bit of tolerance for letting staff have their own opinion was OK for quite a while, but now the party line has changed and the axe has fallen.
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J343
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Re: Cathay Pacific CEO Rupert Hogg resigns

Fri Aug 16, 2019 6:07 pm

This is a shame. Rupert Hogg was a good leader indeed. Ivan Chu on the other hand was not and Mr Hogg managed to get CX back into profitability.
 
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LAXintl
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Re: Cathay Pacific CEO Rupert Hogg resigns

Sat Aug 17, 2019 4:41 pm

In the interview on CNN Quest Means Business show, it was mentioned it will be interesting to watch long term if CX corporate brand and image takes a permanent hit especially in a key market like China where both the consumer and government have long memories.

Letting Hogg go was at the very least part of the early stages of a crisis management process that will be tasked on rebuilding the carriers image and confidence in eyes of its key China market.
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zakuivcustom
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Re: Cathay Pacific CEO Rupert Hogg resigns

Sat Aug 17, 2019 4:56 pm

LAXintl wrote:
In the interview on CNN Quest Means Business show, it was mentioned it will be interesting to watch long term if CX corporate brand and image takes a permanent hit especially in a key market like China where both the consumer and government have long memories.


Mainland Chinese consumers have long memories? Something that's as far away from the truth as it gets :).

Seriously, Carrefour is still thriving (This was way back in 2008 Olympics), Japanese cars are still selling like hotcakes in mainland China (2014 Anti-Japan protest due to Diaoyutai/Senkaku dispute), Mainland Chinese visitors to South Korea is already rebounding (2017 THAAD "crisis"). I'll give 3 months max before this blow over and Chinese netizens move onto the next 京A88519.
 
blueflyer
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Re: Cathay Pacific ceo Rupert hogg resigns

Sat Aug 17, 2019 6:28 pm

USAirALB wrote:
I personally wouldn't read too much into this, even considering the recent events in Hong Kong. Swire is still the majority stakeholder in CX.

I think the past week or two have shown that if the Chinese government asks Swire to jump, Swire will jump as high as possible and apologize for not jumping higher still...
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CX Flyboy
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Re: Cathay Pacific CEO Rupert Hogg resigns

Sun Aug 18, 2019 1:48 pm

I've not read whether they are leaving Swire, or simply resigning from Cathay and awaiting reassignment elsewhere in the Swire empire. While it is a shame Cathay is having to buckle to political bullying, I wouldn't necessarily worry about those departed leaders being able to feed their families just yet.

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