Cathay Pacific announced the shock resignation on Friday of its CEO Rupert Hogg.

This file photo taken on August 16, 2017 shows Cathay Pacific's chief executive officer Rupert Hogg speaking during a press conference on the company's half-year results in Hong Kong. (Photo: AFP)

In a statement posted on the Hong Kong stock exchange on Friday, Cathay said Hogg had resigned "to take responsibility as a leader of the Company in view of recent events".

He has been replaced by Augustus Tang, a veteran of the Swire Group conglomerate, Cathay's main shareholder.