"At Cathay Pacific we have taken steps to lead on many sustainability challenges, our involvement in the Aviation Global Deal on environmental targets being a key example of this. Leading in this way will help to deliver success for our business and all its stakeholders. My Sustainable Development Steering Committee understands the important role it plays as it works carefully and seriously on the priority areas for action."
John Slosar, Chief Executive
The highest governance body is the Board of Directors led by the Chairman and comprises the Chief Executive and five other Executive Directors. There are also 12 non-Executive Directors, four of whom are independent. As well as having responsibility for our economic performance, the Board oversees the environmental and social initiatives undertaken in the company. More information can be found in our 2010 Annual Report, under the Corporate Governance Section (p.42-46).
It is the policy and intent of Cathay Pacific, Dragonair and the Hong Kong-based 100% owned subsidiaries to operate at all times in full compliance with all applicable and relevant antitrust and competition laws. In November 2010, the European Commission imposed a fine equivalent to HK$618 million on Cathay Pacific and a number of cargo carriers for infringing European competition law. We are appealing this decision, and further details are available in our Annual Report.
To support clear communication on our competition compliance policy and guidelines, we run an ongoing refresher online training course on antitrust issues, which has an annual attendance of more than 2,200 employees. We encourage employees to report any apparent or suspected violations of our antitrust policy, associated guidelines or applicable competition laws, with strict confidentiality ensured.