Top 2 cheeses resign from CX

[jetjockey696]

https://www.scmp.com/news/hong-kong/transport/article/3140226/two-top-cathay-pacific-executives-resign-opening-door

New kids in the playpen soon

[frampton]

“Both Simon and Philippe have contributed greatly to the success of Cathay Pacific,” Tang said.

Bloody predictive text; "success" should read "demise" I think.

[LLLQNH]

So it begins......they are heading for the lifeboats!

[gulliBell]

This long suffering CX shareholder who has seen his investment decimated over the past 20 years says get rid of the lot of them and put the tea lady in charge.

[Freehills]

Makes sense - UK is experiencing shortage of truck drivers/ bar staff/ farm workers due Brexit, so good time to go back and find an honest job

[Dragon Pacific]

Deckchairs. Titanic.

[Flex88]

There's only 3 options here:
1. Bailing a sinking ship with, I’m sure, fat bonus cheques in pocket.
2. Clearing out executive size office space for their CCP replacements
3. Make room for the inevitable liquidator staff.

Or, very possibly, all 3.

[badge42]

Well, what's the point of having a Customer Director if you've got no customers? Surplus to requirements? And, why wouldn't you push out the Chief Risk Officer if the next big (cost cutting) driver of management bonuses includes schemes like 'single pilot ops'?

[controlledrest]

We should also fire all those involved with engagement and communication. There is none of either, just orders.

[Dashtrash]

What does it tell you when the risk manager bails out. Like the old gag "i'm a bomb technician, if you see me running, try to catch up"

[badge42]

He only lasted 8 months in the job. Can't help wondering if he's suffering from a 'dose of integrity'.

[Oasis]

new CEO coming i read somewhere, time for some new ideas?

[Bangaluru]

Someone with new ideas would not be given the job.

[Clueless In CLK]

Funny handshake brigade and back stabbers all vying for promotion as new opportunities open up - running round like headless chickens ..the square wheel business moves on

[Betsy]

badge42

Wait a minute, is this the guy who moved back from America to become GM IOC, only to announce on his first day in the job he was becoming the Cathay Risk Man?

[Freehills]

Yep, that’s the one.

[SOPS]

Can I ask.. what does a Risk Manager actually do?

[turnandburn]

Maybe it had something to do with the cabin crew that got set up in pek, yesterday.
posted at L1 met by police on door opening by name.
Would need collusion from from those in charge for that to happen

[Oasis]

What happened to the cabin crew? Arrested?

[Flex88]

SOPS

In most corporations "Risk Managers" oversee all operations to "mitigate" or minimalize any risk, operational or financial..
At CX though, with a history over the last 15/20 years of losing many many MILLIONS of US $$ on fines for price fixing on every continent in the world AND losing 5-6 BILLION US $$$ on failed fuel hedging (gambling) bets, Cathay has managed, as they always do, to "reimagine" that job for some schmuck Swire Prince in need of an office door to hang his/her shingle who has ZERO qualifications or previous experience that would qualify them for the task... Google "Cathay Pacific fined" or "Cathay Pacific fuel hedging loses" and it'l keep you busy reading for a week..

[Oasis]

There was a cost, but how much has Cathay gained over the years with price fixing and gambling on the fuel hedging market?
If you have that data, you will then have the full story.

[Flex88]

Here’s the actual real year end data. They have 5 - 7 BILLION US $$ “LESS” than they SHOULD have had! Or did you get your accounting degree at Stanly Ho’s casino in Macau in the good ol days.

[Oasis]

Don't know the source of your data, does it include hedge, penalties, traffic loss? any dates?

[mngmt mole]

None of this matters anymore. With the latest COS, and the political reality in HK now, there is no longer a career to be had at CX. The sooner individuals realise that, the sooner they will be able to salvage a career somewhere else. 1994 began the rot...it's not getting better my friends.

[turnandburn]

Oasis

Check with your cabin crew friends, appears all arranged with help of senior crew and management absolutely abhorrent. Mandarin speaking poster boy.