MTA Chairman Walder resigns

Metropolitan Transportation Authority Chairman and CEO Jay H. Walder Thursday announced his resignation, effective October 21. Walder is headed for Hong Kong to serve as CEO of MTR Corp., and will also serve on MTR’s Board of Directors.

Walder (pictured at left) joined the MTA in October 2009, and for two years struggled to advance what some regional rail advocates call a “productive austerity” program, as he attempted to streamline MTA operations and capital construction procedures. Earlier this week MTA announced a $2 billion cut in its five-year capital spending program, but did not postpone or terminate any of its major projects, which many attributed to Walder’s theme of “Making Every Dollar Count.” MTA says the efficiency measures are expected to yield $3.8 billion in cumulative savings by 2014.

“I want to thank Governors Cuomo and former Governor Paterson for the honor of serving the people of New York State,” Walder said in a statement. “The MTA’s transportation system is the foundation of the metropolitan region and we are fortunate to have thousands of dedicated men and women who work so hard to provide these critically important transportation services to millions of people each and every day. I believe that we have accomplished quite a lot in a short period, with the support of two Governors, the Mayor, a hard-working Board and many others.”