Swire Announces Succession Plans

Mr. John Slosar will succeed Mr. Pratt as Chairman of these companies.

Mr. Pratt, aged 57, joined the Swire group in 1978 and has been Chairman of the group in Hong Kong since February 2006. The boards would like to take this opportunity to thank Mr. Pratt for his long and distinguished service and to wish him well for the future.

Mr. Slosar is currently Chief Executive of Cathay Pacific Airways Ltd. and Chairman of Swire Beverages Ltd. and Hong Kong Dragon Airlines Ltd. He is also a Director of John Swire & Sons (H.K.) Ltd. and Swire Pacific Ltd. Mr. Slosar, aged 57, joined the Swire group in 1980. He was appointed Managing Director of Hong Kong Aircraft Engineering Co. Ltd. in 1996, Managing Director of Swire Beverages Ltd. in 1998 and Chief Operating Officer of Cathay Pacific Airways Ltd. in 2007. He was appointed to his present post in 2011. Mr. Slosar has degrees from both Columbia University and Cambridge University.

Mr. Ivan Chu, currently Chief Operating Officer of Cathay Pacific Airways Ltd., will succeed Mr. Slosar as Chief Executive of the airline. Mr. Chu, aged 51, joined Cathay Pacific in 1984 and has worked with the company in Hong Kong, Mainland China, Taiwan, Thailand and Australia. He is also Chairman of AHK Air Hong Kong Ltd. Mr Chu holds a Master degree in Commerce from the University of New South Wales in Australia and a Bachelor's degree in Social Science from the University of Hong Kong.