ANN: Cathay Pacific CEO Rupert Hogg resigns following HK fallout

Cathay Pacific Airways Chief Executive Officer Rupert Hogg has resigned, a week after the Hong Kong-based carrier received a safety warning from the Civil Aviation Administration of China.

The board appointed Augustus Tang, 60, as Cathay’s new CEO, according to a statement from the company on Friday. Hogg, 57, resigned as a way of taking responsibility amid recent events, said the airline.

The airline also said Paul Loo had resigned as chief customer and commercial officer, to be replaced by the head of its low-cost arm Hong Kong Express, Ronald Lam. 

This is regrettable as we have always made safety and security our highest priority. We therefore think it is time to put a new management team in place who can reset confidence and lead the airline to new heights

Cathay Chairman John Slosar
Cathay Chairman John Slosar said recent events had called into question Cathay's commitment to flight safety and security and put its reputation and brand under pressure.

"This is regrettable as we have always made safety and security our highest priority," he said in a statement. "We therefore think it is time to put a new management team in place who can reset confidence and lead the airline to new heights." 

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

Hogg took the helm at the 72-year-old carrier just over two years ago, tasked with one of the toughest turnaround jobs in Asian commercial aviation. He was previously an executive with the Swire Group, the Hong Kong conglomerate and Cathay’s largest shareholder.

China's aviation authority issued a warning to Cathay last Friday after the airliner reportedly continued to allow a pilot charged with rioting to fly. 

The authority said on Thursday that the carrier has since complied with its demands following the warning.

Cathay's stock hit a 10-year low Tuesday.