A former government adviser is likely to be appointed chairman of the Urban Renewal Authority after its current chairman, Edward Cheng Wai-sun, told the government he did not want his contract extended when it expires at the end of this month.
Sources close to the authority said non-executive director Barry Cheung Chun-yuen was likely to replace Mr Cheng.
Another source said: 'Mr Cheng and Mr Cheung met Secretary for Housing, Planning and Lands Michael Suen Ming-yeung a few weeks ago. They should have discussed issues concerning the handover [of the board's chairmanship].'
Mr Cheng, chief executive of USI Holdings, was appointed chairman of the authority on May 1, 2004.
He did not reply to requests for confirmation that he would step down.
Mr Cheung, who holds an MBA from Harvard University, is chief executive of Titan Petrochemicals Group. He was a full-time member of the Central Policy Unit and a consultant with McKinsey & Company in the US and Asia.