State-controlled MTR (HKG:0066) named Jacob Kam Chak-pui as chairman effective Jan. 1, 2026, when he will step down as the firm's CEO, a Tuesday Hong Kong bourse filing said.

Kam's term as chair will last until Dec. 31, 2028, the public transport operator and property developer said.

The move comes as Rex Auyeung Pak-kuen will retire as chairman effective Dec. 31.