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Yesterday, New York’s Metropolitan Transportation Authority (MTA) Chairman Peter Kalikow announced plans to resign after the authority appoints a successor.

The agency’s second-longest serving chairman, Kalikow has held the post for seven years. He was a MTA board member for two years prior to becoming chairman.

“I am a firm believer in setting aggressive goals, accomplishing those goals and then giving others the opportunity to expand upon those initiatives and create new ones with fresh vision and new energy,” Kalikow said in a prepared statement. “As both a long-time public servant and an avid supporter of term limits as a means to maintain healthy and effective government leadership, I believe the public will be best served by my decision.”

During Kalikow’s tenure, MTA launched construction on New York City Transit’s Second Avenue Subway project, the Fulton Street Transit Center and Long Island Rail Road’s East Side Access project. The authority also extended the #7 subway line extension to the far west side of Manhattan and created the MTA Capital Construction Co. to oversee the agency’s capital projects.

Kalikow currently serves as president and chief executive officer of family real estate development company HJ Kalikow & Co. L.L.C.