SHANGHAI, April 12 (Reuters) - Cathay Pacific Airways
on Wednesday said its Chief Executive Ivan Chu will
step down on May 1, and will be replaced by the airline's
current Chief Operating Officer Rupert Hogg.
It said in a statement to the stock exchange that Hogg would
also become the chairman of Cathay Dragon and that Cathay
Pacific will no longer have a chief operating officer.
The leadership reshuffle comes after Hong Kong's flag
carrier posted its first annual loss since 2008 last month and
unveiled plans to cut the cost of middle and senior management
roles at its Hong Kong head office by 30 percent.
(Reporting by Brenda Goh; Editing by Himani Sarkar)