Both Phoenix’s Valley Metro RPTA and the Valley Metro Rail boards of directors finalized an employment agreement with Scott Smith that will transition his service to CEO.

Smith, former Mayor of Mesa, has been Valley Metro’s Interim CEO since Feb. 1, 2016. He will continue to guide the region’s transit system responsible for building and operating light rail, regional bus, Dial-a-Ride, and vanpool. The system has nearly $2 billion in assets and an annual budget of nearly $500 million.

“Scott Smith has been extremely responsive to the boards, implementing critical changes and refocusing Valley Metro with a refreshing level of professionalism, accountability, and integrity,” said Valley Metro RPTA Board Chair and Phoenix Councilmember Thelda Williams. “During his time here, we have experienced the value of his combined public and private sector leadership experiences and determined they are a perfect fit for this vital public agency and its future.”

Smith, an Arizona native and Mayor of Mesa from 2008 to 2014, has been a private sector CEO, attorney, and certified public accountant. As mayor, Smith reduced government spending, balanced the budget, and slimmed the workforce by 10%, making city government leaner, more efficient, and more accountable, according to Valley Metro’s press release.

Following a nationwide search, the boards of directors have offered Smith the CEO position for a period of two years. Salary and other contract details are being finalized.