Hong Kong’s aviation community is abuzz with rumours over why David Turnbull, chairman of Cathay Pacific Airways and its main shareholder, Swire Pacific, has resigned.
Cathay said Turnbull had “decided to leave the Swire group at the end of January 2006”. This is a highly unusual move for a Cathay or Swire chairman because the incumbent typically remains in the dual roles until retirement.
The airline says that “after careful consideration, he has decided that he wishes to resume a more active operational role”.
Turnbull will be replaced as chairman by 49-year-old Christopher Pratt, who has been with Swire for 27 years. Pratt is currently responsible for Swire Pacific’s Trading & Industrial Division and is chairman of Swire Pacific Offshore.
Turnbull became chairman of the UK-backed Swire group and Cathay at the start of 2005, when he stepped down as chief executive of the airline after heading it for eight years. Cathay says he will remain as non-executive chairman of Hong Kong Aircraft Engineering.
NICHOLAS IONIDES/SINGAPORE
Source: Airline Business
