Cathay Pacific Airways is about to experience significant changes in its management team. Chief Executive Officer (CEO) Augustus Tang Kin-wing announced the upcoming resignations of two top executives Simon Large and Philippe Lacamp.
Large was responsible for managing the brand, corporate, and marketing communications, at the company, while Lacamp served as the Chief Risk Officer. They are resigning from their positions on July 31 and August 31 respectively, a company memo seen by media suggests. Although the two senior executives did not disclose their reasons for resignations, the upcoming departures are reportedly coming ahead of the regular airline’s rotation in the management team.
“Both Simon and Philippe have contributed greatly to the success of Cathay Pacific. […] We are truly indebted to both of them and they will be missed by all with whom they have worked over their careers. I wish them every success and happiness with their future endeavors,“ the CEO of Cathay Pacific confirmed the changes in a memo adding that candidates to take over the roles of both leaders would be officially announced later.
Large and Lacamp successors will have to face the challenge of helping to guide Cathay Pacific through recovery and return to profitability. The air carrier, which lacks a domestic market, has suffered substantial losses during the COVID-19 pandemic which caused the collapse of international air travel demand. The company still tries to stay afloat while facing the most challenging times of its more than 70-year history with a 99% decline in passenger numbers as of May 2021.
The airline has already laid off 5,900 employees and keeps 108 out of 174 jets in storage, Planespotters.com data shows.