Carmen Bianco will retire later this year as president of New York City Transit, the Metropolitan Transportation Authority announced June 2.
Bianco, 63, submitted a letter of resignation effective in August to enable the MTA to conduct a nationwide search for his replacement, the authority said in a statement.
The MTA is one of the largest municipal issuers with roughly $35 billion in debt.
Bianco and his team guided the agency through significant snowstorms, Hurricane Irene and Hurricane Sandy, which took a critical toll on significant areas of the system's 110-year-old infrastructure. Despite more than $4 billion in Sandy-related damage, 80% of subway service was restored within five days.
He became acting president of New York City Transit in April 2013 and received the permanent appointment five months later. He had previously served since March 2010 as senior vice president of the Department of Subways.
"Carmen Bianco is a one-of-a-kind leader as well as a trusted friend" said MTA Chairman Thomas Prendergast. "He will be missed."
