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John Slosar to remain Cathay Pacific chairman after Merlin Swire announced as new Swire Pacific chairman
February 9th 2018
Swire Pacific Ltd on Thursday announced that chairman, John Slosar, would retire from his positions at the conglomerate and its subsidiaries, Swire Properties and Hong Kong Aircraft Engineering Company Limited (HAECO), from July 1, but would remain the chairman and a director of Cathay Pacific Airways. Read More »
He will be succeeded by Merlin Bingham Swire, 44, an heir of the founding family and the CEO of John Swire & Sons, the holding company of Swire Pacific. Merlin Swire is the oldest son of Swire family patriarch, Adrian Swire.
Slosar, 61, has been chairman of Swire Pacific Ltd since March 2014 and a director and then chairman of Cathay Pacific for more than ten years. He was appointed chief operating officer of the airline in July 2007 and CEO in March 2011. He joined the Swire Group in 1980 after graduating in economics from Columbia University in the U.S. and then the UK’s Cambridge University. During his career with the group, he has held leadership positions at Swire subsidiaries in the U.S., Thailand and, through Swire investments in China, on the Mainland.
Last March, Cathay reported an annual net loss of HK$575 million (US$74 million). The carrier has since embarked on a three-year transformation programme. The airline will report its 2017 results on March 14.
“This move back to Hong Kong reflects how important Hong Kong is to the group’s business and reaffirms the Swire family’s long-term commitment to Swire Pacific at a time of rapid change and exciting growth opportunities,” Swire said. “After 20 years in the business, I am delighted to be returning to Asia as chairman of Swire Pacific during such a dynamic time in the development of China and the region.”
