Port Authority Vice Chairman Resigns Out Of Frustration
After only six months, Port Authority of New York & New Jersey vice chairman Steven Cohen has had enough.
Cohen has resigned from his position and will be stepping down from the board at the end of the year, the Commercial Observer reports.
Cohen was trying to fund a new bus terminal, which is to be built in Manhattan and was part of a still-unpassed 10-year capital budget. He was also expected to be a major reformer for the Port Authority and implement a new organizational structure, but little has changed or even been discussed, and feelings of frustration are felt throughout the agency, per the report.
Cohen’s exit is the second in the last few months, with RXR Realty CEO Scott Rechler (pictured) resigning from the board after five years. Replacements haven’t been announced and will need to be confirmed by the state Senate. [CO]