MTR Corp hires Jay Walder as CEO

Walder, chairman of New York’s Metropolitan Transportation Authority, will head Hong Kong’s urban rail operator come 2012.

A Bloomberg report said, “MTR, 76.7 percent owned by the government, will pay him HK$7.2 million ($924,000) a year, an undisclosed discretionary bonus and interest in shares.”

According to the report, the MTR began a search for a new leader after chief executive officer Chow Chung-Kong said in December he will retire at the end of 2011.

View the report here.