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Cathay CEO resigns amid Hong Kong protest blowback as more rallies planned
Source: Reuters
WORLD NEWS AUGUST 15, 2019 / 11:40 PM / UPDATED 2 HOURS AGO
Cathay CEO resigns amid Hong Kong protest blowback as more rallies planned
Donny Kwok, Twinnie Siu
6 MIN READ
HONG KONG (Reuters) - The boss of Hong Kong carrier Cathay Pacific Airways quit on Friday, the highest-profile corporate casualty of unrest roiling the former British colony, after Beijing targeted the airline over staff involvement in mass protests.
The corporate upheaval comes ahead of a weekend where further protests are planned, including what could be a large gathering on Sunday that could test whether a movement that has enjoyed broad support can retain it, even as violence escalates.
-snip-
Cathay Pacific, an emblem of the city, was blindsided last week when China’s aviation regulator demanded it suspend staff supporting a movement that has mushroomed from opposition to a legal change in Hong Kong into wider calls for democracy.
The abrupt departure of Chief Executive Rupert Hogg, a move the company said was “to take responsibility ... in view of recent events,” shows just how much pressure Beijing is piling on corporate giants and the city as it seeks to snuff out the protests.
Cathay (0293.HK) became embroiled in the confrontation after one of its pilots was arrested at a demonstration in July.
-snip-
Cathay CEO resigns amid Hong Kong protest blowback as more rallies planned
Donny Kwok, Twinnie Siu
6 MIN READ
HONG KONG (Reuters) - The boss of Hong Kong carrier Cathay Pacific Airways quit on Friday, the highest-profile corporate casualty of unrest roiling the former British colony, after Beijing targeted the airline over staff involvement in mass protests.
The corporate upheaval comes ahead of a weekend where further protests are planned, including what could be a large gathering on Sunday that could test whether a movement that has enjoyed broad support can retain it, even as violence escalates.
-snip-
Cathay Pacific, an emblem of the city, was blindsided last week when China’s aviation regulator demanded it suspend staff supporting a movement that has mushroomed from opposition to a legal change in Hong Kong into wider calls for democracy.
The abrupt departure of Chief Executive Rupert Hogg, a move the company said was “to take responsibility ... in view of recent events,” shows just how much pressure Beijing is piling on corporate giants and the city as it seeks to snuff out the protests.
Cathay (0293.HK) became embroiled in the confrontation after one of its pilots was arrested at a demonstration in July.
-snip-
Read more: https://www.reuters.com/article/us-hongkong-protests/cathay-ceo-resigns-amid-hong-kong-protest-blowback-as-more-rallies-planned-idUSKCN1V606U