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Hong Kong's Cathay Pacific chief executive Philip Chen to step down 03.08.07, 7:04 AM ET
HONG KONG (XFN-ASIA) - Swire Pacific Ltd and Cathay Pacific Airways chairman Christopher Pratt said Philip Chen is to step down as chief executive of Cathay Pacific Airways but remain on the board as a non-executive deputy chairman.
Chen will take up a new role within Swire Pacific as the director responsible for the company's overall China investment strategy.
Chen is also to be appointed chairman of John Swire & Sons (China) Ltd, as well as sit on the boards of Swire Properties Ltd and Swire Beverages Ltd.
Tony Tyler, the chief operating officer of Cathay Pacific, is to be promoted to the position of chief executive.
John Slosar, managing director of Swire Beverages and a Swire Pacific executive director, is to be appointed chief operating officer of Cathay Pacific Airways. He will remain a director of Swire Pacific
The senior management changes in both companies will take place with effect from July 1, 2007.
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