James Ferrara will become interim president of New York City Transit when current chief Carmen Bianco retires, Metropolitan Transportation Authority Chairman Thomas Prendergast announced.
New York City Transit operates subway, bus and paratransit service in the city. The authority is conducting an international search for a permanent replacement for Bianco.
Ferrara has been president of MTA Bridges and Tunnels since 2010. Donald Spero, the executive vice president and chief financial officer for bridges and tunnels, will become acting president of that unit while Ferrara moves over.
"Running New York City Transit is one of the most complicated and critical jobs in the entire MTA, and Jim's excellent judgment and strong managerial skills make me confident the agency will be in good hands while we find transit's next permanent president," Prendergast said in a statement.
The MTA is one of the largest municipal issuers, with roughly $36 billion in debt.
