Cathay Pacific chief executive Ivan Chu will step down from the position on May 1.
The Hong Kong carrier posted its first loss in eight years under Chu last month.
He will be replaced by the airline’s chief operating officer Rupert Hogg, who will lead it through a three year corporate transformation programme.
Hogg will become chairman of its regional airline Cathay Dragon and will remain chairman of the executive committee of Cathay Dragon.
Chu will be appointed chairman of John Swire and Sons from May 1.
Paul Loo, director corporate development & IT of Cathay Pacific, will be appointed the chief customer and commercial officer of Cathay Pacific from June 1.