PANYNJ to expand CEO search; Foye drops out of the running

The Port Authority of New York and New Jersey's board (PANYNJ) is retooling its search for a new chief executive officer to take into account the authority's new role in overseeing the Gateway construction project, which includes a new Hudson River rail tunnel system, authority officials announced yesterday.

The board has been conducting its CEO search since December 2014, when a special panel on the PANYNJ's future recommended such an appointment. A CEO search committee had hoped to make initial recommendations to the full board this month, but instead is suggesting that the search be broadened to take the Gateway and other projects into account.

"In the past year, the Port Authority has committed itself to a number of projects, such as a modernized LaGuardia Airport, a new bus terminal, and most recently the new responsibility of leading the Gateway program, all of which are some of the largest transportation projects in the country. Therefore, it makes sense for us to pause to ensure that we have factored that into our selection process and candidate selection," said PANYNJ Vice Chairman Scott Rechler in a prepared statement.

The board also announced that Executive Director Pat Foye, who has served in that role since November 2011, has asked that his name be withdrawn from the CEO selection process. He plans to leave the agency within 120 days.

Earlier this month, an agreement to fund the construction of new Hudson River rail tunnels was reached between federal, New York, New Jersey and Amtrak officials that will have the federal government paying for at least half the project. The agreement calls for the creation of the Gateway Development Corp. to run the project. The corporation will fall under the PANYNJ's oversight.