NEW YORK CITY — Joe Lhota, chairman of the New York Metropolitan Transportation Authority, suddenly resigned from his position, WABC TV reported.

Fernando Ferrer, the MTA's current vice chairman, will become the acting chairman, according to the report.

It's not clear what led to the resignation of Lhota who had been on the job for 18 months, WABC TV reported.

Governor Andrew Cuomo's announced it will immediately begin a search for a new chairman. For the full story, click here.

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Statement from MTA Leadership on Departure of Chairman Joseph Lhota

The following letter was sent this morning from MTA leadership to all MTA staff:

MTA Family-

After working with you to save the transit system following Superstorm Sandy and returning for a second tour as Chairman, Joe Lhota is leaving the MTA today. We are extremely grateful for the steady leadership he provided during his tenure. Joe launched the Subway Action Plan, reinvigorated the MTA and set us on the path to success. His focus on delivering better daily service for our customers and prioritizing cost containment and procurement reform initiatives and working to create long-term sustainable funding sources were the hallmarks of his time leading the board.

While Joe may be departing — our relentless focus on our customers remains unchanged.

Thanks to your hard work, the MTA is well-positioned for a renaissance. New Yorkers recognize the value of reinvestment in our transit infrastructure and the groundwork has been laid for a long-overdue renewal. At the same time, at each of your agencies and at MTA Headquarters we are finding new and innovative ways to do our jobs and deliver results for the region. That work goes on and our commitment to support you is steadfast.

Every day you help millions of people get to work, school, and anywhere else they want or need to go. You may not realize it but you are the engine that makes the entire New York metropolitan region run. So thank you for all that you do now and what we will all accomplish together in the future.

Fernando Ferrer, Acting Chairman MTA
Veronique Hakim, Managing Director
Pat Foye, President
Janno Lieber, Chief Development Officer
Bob Foran, CFO