NEW YORK – New York Gov. Andrew Cuomo has announced that Joe Lhota is resigning chairman of the MTA, effective immediately.

Lhota is stepping down from public service after two terms as head of the MTA and decades of work at the highest levels of government, according to Cuomo.

In a statement, Cuomo said, "Joe Lhota has dedicated decades of his life to public service culminating in two tours of duty at the helm of the MTA. He stabilized the subway system, appointed a new leadership structure to completely overhaul the MTA, and led with a steady hand during some of the agency's most challenging moments. In short, Joe demonstrated time and again why he was the right person for the job. I am deeply grateful for his service to the State of New York."

Gov. Cuomo tweeted his gratitude for Lhota's service.

Cuomo says that MTA Vice Chairman Fernando Ferrer will serve as acting chair while officials prepare to name a permanent replacement when the Senate returns in January.

In a statement to the Wall Street Journal, Lhota said he took the position for the "sole purpose of halting the decline of service and stabilizing the system for my fellow New Yorkers."