Hong Kong MTR Corp CEO Jacob Kam named as next chairman of rail giant

The CEO of Hong Kong’s MTR Corporation, Jacob Kam Chak-pui, will take the reins as chairman from January next year, tasked with leading the rail giant with added momentum to boost the city’s development and integration with mainland China. The government, the company’s majority shareholder with a stake of about 75 per cent, announced his promotion on Tuesday, saying Kam, 63, would succeed Rex Auyeung Pak-kuen, 73, for a three-year term until the end of 2028. Secretary for Transport and Logistics Mable Chan highlighted the importance of the MTR Corp and said it was the backbone of Hong Kong’s public transport system with more than 5 million passengers daily. Kam was expected to draw on his extensive experience in leading the firm in applying innovative technologies to continuously enhance the safety, efficiency and reliability of Hong Kong’s railways, the government said. “And uphold the MTR Corp’s mission of ‘keeping cities moving’, such that railway infrastructure can be leveraged to add momentum to Hong Kong’s development and cross-boundary integration with the mainland,” it said. Rex Auyeung (left) and Jacob Kam. Photo: Edmond So Chan also thanked Auyeung for his contributions since taking up the chairmanship in July 2019 at a time when social unrest hit Hong Kong, pointing to the firm’s network expansion through projects such as the Tuen Ma line and the East Rail line cross-harbour extension. The MTR Corp said Kam would lead the board in ensuring effective management and oversight of the company’s business affairs, formulating corporate strategy, establishing the governance structure and evaluating the performance of executive directors. Kam, who joined the company in 1995 and was appointed CEO in April 2019, has more than 30 years’ experience in the industry. He held several key positions to manage the corporation’s railway operations and projects in Hong Kong, as well as railway and property businesses on the mainland and worldwide. “I am deeply honoured to be appointed as chairman of the MTR Corp. I will join hands with the board to lead the MTR Corp in its continued development,” he said. “The board will continue to support the company’s strategic development, governance and policy decisions to ensure the sustainability and competitiveness of the MTR’s businesses, serving Hong Kong and the cities in which we operate, while creating value for all stakeholders.” Hong Kong’s MTR by the numbers Auyeung also expressed his gratitude to the MTR team for its support during his tenure. “The MTR has been actively facilitating the development of Hong Kong over the years. I am truly honoured to be a part of this journey, leading the team through many important milestones,” he said. “I also cannot forget the solidarity of our team in overcoming the challenges of the pandemic … I am pleased to see the MTR moving towards clearer business and social goals under the new direction.” The rail giant earlier promoted managing director Jeny Yeung Mei-chun to CEO, also from January next year, and tasked her with leading the firm through transformation. Yeung will be the first woman to take on the CEO role in the corporation’s 45-year history.