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Valley Metro CEO Resigns, Interim Installed

Stephen Banta (pictured) has resigned as CEO of Valley Metro. Photo credit: BUSRide.com

Source: Valley Metro

Following a joint meeting of the Valley Metro RPTA and Valley Metro Rail Boards of Directors, action was taken to accept the resignation of Chief Executive Officer Stephen R. Banta and place him on administrative leave effective immediately. On Monday, December 7, the Boards will meet again to review a separation agreement.

“It’s time for change in the senior leadership role at Valley Metro,” said Phoenix Councilmember, Valley Metro Rail Board Chair and Valley Metro RPTA Board Treasurer Thelda Williams.

Eric Anderson, Transportation Director with the Maricopa Association of Governments (MAG), was named acting CEO while an interim CEO decision can be made. An interim CEO selection is expected at the December 17 joint Board meeting. In early 2016, a national search will be conducted to find a permanent replacement to guide the Valley Metro agency, staff and its mission of providing customers with a safe, efficient and reliable public transit network.

Additionally, the Boards instructed acting CEO Anderson to begin the process of hiring a third-party, independent auditor to review financial policies and records, compliance with these policies and recommend any changes. This audit is in addition to the one being undertaken by the City of Phoenix as the region’s designated federal recipient.

Read more at Valley Metro

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