Conglomerate Swire Pacific announced a broad management reshuffle yesterday, including the departure of chairman Peter Sutch.

He will be replaced on May 1, 1999, by James Hughes-Hallett, executive director of Swire Pacific's trading and marine services division.

Mr Sutch has been chairman of Swire Pacific since June 1992, successfully guiding the company through the turbulent years leading up to Hong Kong's return to mainland rule last year.

He is expected to join the board of London-based parent John Swire & Sons as an executive director.

In recent years, Mr Sutch has often attracted criticism for Swire Pacific's cautious growth strategy, an approach that in hindsight has proved prescient given the Asian economic crisis.

Mr Hughes-Hallett will also be replacing Mr Sutch as chairman of Cathay Pacific Airways and will be promoted to Swire deputy chairman next month.

Swire Pacific finance director Peter Johansen will also be joining John Swire as an executive director and will be replaced by present general manager of corporate finance Martin Cubbon.

Managing director of Swire Properties Keith Kerr will be appointed deputy chairman and chief executive of the property subsidiary on July 1.

Cathay Pacific managing director David Turnbull will be appointed deputy chairman and chief executive on the retirement of Patrick Tsai. Deputy managing director Philip Chen will be appointed chief operating officer.

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