Jardines taipan Alasdair Morrison is leaving the British-controlled conglomerate after six years running group flagship Jardine Matheson Holdings.
He will be succeeded as managing director by Percy Weatherall, chief executive of Jardines' property arm Hongkong Land and another member of the families that still control the group.
Jardines gave no reason for Mr Morrison's departure, which comes at a time when the group's companies have been struggling to recover from the regional downturn and establish a firm strategy for future growth.
'It has been a tough time over the last few years and as the recovery starts, the board thought it was time for a change,' group company secretary Neil McNamara said.
He said Mr Morrison, who has been with the group for nearly 30 years, 'had been in the job longer than most' managing directors.
Chairman Henry Keswick paid tribute to Mr Morrison's 'skilful and dedicated management', which he said had largely enabled the group to come through the Asian economic crisis in good order.