Gov. Andrew Cuomo plans to name Steven M. Cohen, a long-time ally, to replace RXR Realty’s Scott Rechler as the new vice chair of the Port Authority of New York and New Jersey.
Cohen currently works as chief administrative officer and general counsel at Ronald Perelman-run MacAndrews & Forbes Incorporated. He previously worked as Cuomo’s chief of staff in the Attorney General’s Office.
The governor appointed Cohen — not to be confused with the billionaire hedge funder with the same name — to the bi-state agency’s board last year. He is a trustee of NYU and a board member of the Brooklyn Bridge Park Corporation.
Rechler told Politico that he and the governor have discussed his “transitioning off” the position, which he anticipates taking a few months. Sources told the website that Cuomo plans to name Cohen, who is already a member of Port Authority’s board, as his successor.
The leadership change comes as the agency continues its search for a chief executive, a new position created in the wake of the 2013 George Washington Bridge scandal. Officials have also said that they are trying to pivot the agency back toward its ‘core mission.’ Last month, The Real Deal detailed the Port Authority’s efforts to sell off some of its real estate assets. [Politico] — Kathryn Brenzel