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Jay Walder, chairman and chief executive officer of the New York Metropolitan Transportation Authority (MTA), will resign Oct. 21 to serve as CEO of Hong Kong's MTR Corp., an operator of rail services in Asia and Europe.

Walder, who joined MTA in October 2009, informed New York Gov. Andrew Cuomo of his decision yesterday.

In his less-than-two-year tenure, Walder led "an unprecedented overhaul" of MTA operations, bringing "fiscal stability" and advancing projects that are "improving the daily experience" of MTA's 8.5 million riders, according to an MTA-issued prepared statement. He also introduced efficiency goals and implemented a customer-service agenda that "showed customers a new vision for 21st century transit service even as costs were reduced."  

"In challenging times, we brought stability and credibility to MTA by making every dollar count, by delivering long overdue improvements and by refusing to settle for business as usual," he said.

Walder will assume his MTR post on Jan. 1, 2012.