NYMTA CEO Walder resigns for Hong Kong post

Jay Walder plans to resign as chairman and CEO of New York's Metropolitan Transportation Authority effective the close of business on October 21, 2011. Walder will be joining the MTR Corporation in Hong Kong as CEO and a member of the Board of Directors. The MTR is a publicly-traded company that operates rail services in Asia and Europe and is involved in a wide range of business activities, including consulting and property development. "I want to thank Governor Cuomo and former Governor Paterson for the honor of serving the people of New York State," Walder said. "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." Walder joined the MTA in October 2009, and in less than two years led an overhaul of how the MTA operates, advancing a series of projects that have improved the daily experience of the MTA's 8.5 million riders. Under the banner of "Making Every Dollar Count," Walder introduced efficiency measures that are expected to yield $3.8 billion in cumulative savings by 2014. The effort focused on streamlining the MTA's seven companies, consolidating functions and eliminating redundancies. At the same time, Walder drove a customer service agenda that showed customers a new vision for 21st century transit service even as costs were reduced. Countdown clocks were activated at more than 150 stations, security cameras were brought online, a new user-friendly web site was introduced, an all-electronic tolling pilot was launched and new smart card technology was tested and is moving forward for the entire transportation system. Walder assumes his position as CEO of MTR on January 1, 2012. He will become both a Member of the Executive Directorate and a Member of the Board of Directors. To ensure a smooth transition, Walder will be appointed as CEO designate on November 1, 2011. "This is an exciting opportunity for me to lead a publicly-traded, multi-national corporation with a broad set of business activities," Walder said. "The MTR Corp. is widely recognized for its world-leading rail systems and the innovative property developments that are built around stations."