Hong Kong-listed Swire Pacific has revealed its chairman has stepped down and is heading back to London.

Merlin Swire will become chief executive at the family-owned parent company, John Swire & Sons.

One of the new generation of the Swire family dynasty at the helm of the historic company, he will resume his role after three years at Swire Pacific, whose shipping interests include Swire Pacific Offshore and Hong Kong United Dockyard.