Cathay Pacific CEO Ousted Over 'Sympathetic' Response To Protests [zero hedge]
HONG KONG EX&CL UNSP/ADR (HKXCY)
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Source: zero hedge
Rupert Hogg, the CEO of Hong Kong-based airline Cathay Pacific has reportedly resigned on Friday, and though no official reason has been given, many suspect it was due to his slow-to-respond and at times seemingly sympathetic treatment of the protest movement, according to BBG.A report about the Cathay board accepting Hogg's resignation appeared on China state TV. No sources were given, but the story was later confirmed by Hong Kong Exchanges and Clearing.What's more, SCMP reports Paul Loo, Cathay's chief customer and commercial officer and a known Hogg deputy, has also stepped down, in what's beginning to look like a purge.Both men resigned to "take responsibility as a leader of the company in view of recent events," the company said in a statement."The Board of Directors believes that it is the right time for new leadership to take Cathay Pacific forward," the airline said in a statement.Augustus Tang Kin-wing, 60, the CEO of maintenance and engineering company Haeco, was appointed
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