Cathay Pacific has announced thatits chief executive officer, Philip Chenwill step down effective July 1 to leadSwire Pacific’s China investment strategyas chairman of John Swire & Sons(China).

Chen – the first Chinese to headCathay Pacific – will be replaced as CEOby chief operating officer Tony Tyler,who has been with the airline since1978. Chen will remain on the board asnon-executive deputy chairman.

Tyler’s immediate challenge will beto further develop ties with Air Chinawith the first step being the establishmentof a cargo joint venture inShanghai.

Swire Pacific executive directorand Swire Beverages managing directorJohn Slosar will succeed Tyler asCOO.