Earlier today, the MTA announced that Chairman and CEO Jay Walder would step down effective October 21. Walder is leaving to become the new CEO of the Hong Kong-based MTR Corp. (no relation to this blog), which runs rail and other services in Asia and Europe. In a statement, Tri-State Transportation Campaign’s executive director Kate Slevin said:
MTA Chairman and CEO Jay Walder has been an effective, innovative leader. He helped restore the agency’s credibility and changed the way it does business, finding billions of dollars in savings during his tenure.
But his departure comes at an inopportune time. New York’s regional transit system faces a capital funding gap that could be as large as $9 billion, and which needs to be addressed in the coming months. Straphangers are at risk. Governor Cuomo must quickly fill this vacancy with an effective leader who has a deep understanding of the transit system.