THE PORT AUTHORITY OF NY & NJ

Press Release Article


PORT AUTHORITY ELECTS OFFICERS AT BOARD MEETING

Date: Apr 22, 2004
Press Release Number: 52-2004

The Commissioners of the Port Authority of New York and New Jersey today re-elected Anthony R. Coscia of North Caldwell, N.J., as Chairman of the bistate agency and Charles A. Gargano of New York City as Vice Chairman. The Board also re-elected Joseph J. Seymour of New York City as Executive Director, and Jeffrey S. Green of Pearl River, N.Y., as General Counsel.

Charles F. McClafferty of East Islip, N.Y., was re-elected as Chief Financial Officer, Karen E. Eastman of Old Bridge, N.J., was re-elected as Secretary, Bruce F. Bohlen of Fanwood, N.J., was re-elected as Treasurer, Michael Fabiano of Rutherford, N.J., was re-elected as Comptroller, and John D. Brill of Huntington, N.Y., was re-elected as Director of Audit.

Mr. Coscia, Mr. Gargano and Mr. Seymour were re-elected as Chairman, Vice Chairman and President, respectively, of the Port Authority’s subsidiaries: the Port Authority Trans-Hudson Corporation (PATH), the Newark Legal and Communications Center Urban Renewal Corporation, and the New York and New Jersey Railroad Corporation.

Ernesto L. Butcher of South Orange, N.J., the bistate agency’s Chief Operating Officer, was re-elected Vice President and General Manager of the PATH rapid transit system. Michael Francois was elected Vice President and Secretary of the Newark Legal Center Corporation. Mr. Green, the Port Authority’s General Counsel, also serves as Counsel to the subsidiaries. Mr. Butcher was elected as Vice President and Secretary of the New York and New Jersey Railroad Corporation.

The Chairman serves as chief executive officer and principal policy spokesman for the 12-member Board of Commissioners, whose members, six from each state, are appointed by the governors of their respective states. Each appointment is subject to the approval of the respective state Senate.

The Commissioners serve without compensation for six-year overlapping terms. The Board sets the policies of the Port Authority, and its actions are subject to review and veto by the governors.

Mr. Coscia, who was sworn in as a Port Authority commissioner in April 2003, is a partner in the law firm of Windels Marx Lane & Mittendorf, LLP, and serves on the firm’s Executive Committee. From February 1992 to March 2003, Mr. Coscia served as Chairman of the New Jersey Economic Development Authority, one of the largest state-sponsored development banks in the United States, with more than $2 billion in assets and $14 billion in financings.

Mr. Coscia is a director of Interchange Financial Services Corporation, a publicly traded financial services and bank holding company. He also serves as a director of a privately held paper products manufacturer, and on the advisory boards of a diversified real estate company and a regional bank. In addition, he is a member of the Governor’s Jobs and Economic Growth Commission, the New Capital Sources Partnership, the Fannie Mae Regional Partnership Advisory Board, and serves as a trustee of the New Jersey Network Foundation.

Mr. Gargano was originally appointed a Commissioner of the Port Authority by New York Governor George E. Pataki. He joined the Board on April 6, 1995.

A former U.S. Ambassador to the Republic of Trinidad and Tobago and Deputy Administrator of the federal Urban Mass Transportation Administration, Mr. Gargano currently serves as Chairman of the Empire State Development Corporation, responsible for all New York State economic development agencies.

Mr. Seymour has served as Executive Director since January 3, 2002. He previously served as Chairman and Chief Executive Officer of the New York Power Authority. Prior to that, Mr. Seymour served 4_ years as New York State Commissioner of General Services. His professional career spans more than 30 years of administrative, managerial and economic development positions in New York State and local governments.

The Port Authority of New York and New Jersey operates many of the busiest and most important transportation links in the region. They include John F. Kennedy International, Newark Liberty International, LaGuardia and Teterboro airports; AirTrain JFK and AirTrain Newark; the George Washington Bridge; the Lincoln and Holland tunnels; the three bridges between Staten Island and New Jersey; the PATH (Port Authority Trans-Hudson) rapid-transit rail system; the Downtown Manhattan Heliport; Port Newark; the Elizabeth-Port Authority Marine Terminal; the Howland Hook Marine Terminal on Staten Island; the Brooklyn Piers/Red Hook Container Terminal; and the Port Authority Bus Terminal in midtown Manhattan. The agency also owns the 16-acre World Trade Center site in Lower Manhattan. The Port Authority is financially self-supporting and receives no tax revenue from either state.