The Port Authority of New York and New Jersey announced on Monday that Rick Cotton, the agency’s executive director since August 2017, will retire in January 2026. His 8½-year tenure makes him the longest-serving executive director since the 1940s, capping a period of what the agency described as “unprecedented wave of renewal and institutional reform.”
Under Cotton’s leadership, alongside Chairman Kevin O’Toole, the Port Authority delivered on a massive infrastructure agenda, despite navigating the challenges of the COVID-19 pandemic.
Key achievements highlighted by the agency include:
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Airport Overhauls: Spearheading a $50 billion airport transformation program. This includes the complete rebuild of LaGuardia Airport—replacing the “most outdated airport” with a world-class facility—and the opening of Newark Liberty’s Terminal A, named Best New Airport Terminal in the World in 2024. The full rebuild of JFK International Airport is also well underway as part of this program.
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Midtown Bus Terminal: Moving the “long-stalled” Midtown Bus Terminal replacement into construction, a project with an $11 billion budget, after decades of planning paralysis.
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WTC Campus: Revitalizing the World Trade Center campus with the opening of 3 WTC, the Perelman Performing Arts Center, and the St. Nicholas Church and National Shrine.
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PATH & Port Operations: Modernizing the PATH commuter rail with major investments, and elevating the Port of New York and New Jersey to the nation’s second-busiest.
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MWBE Achievement: Achieving historic milestones in minority and women-owned business enterprises (MWBE) participation, setting New York state records with $2.3 billion at LaGuardia and $3 billion at JFK.
Cotton stated his decision comes after the recent completion of the proposed new $45 billion 2026–2035 Capital Plan, which will guide the agency’s next decade of ambition. “With the immense progress that we have made… it is simply time to hand over the reins,” he said.
New Jersey Gov. Phil Murphy thanked Cotton for his partnership and “leadership on several transformative transportation and infrastructure projects that will benefit our region for decades to come.”
Chairman Kevin O’Toole called Cotton the “driving force behind the Port Authority’s resurgence,” whose “vision and discipline are embedded in the capital plan that will guide our next decade.”
Cotton will remain in his role until January 2026 to ensure a smooth transition with his successor, who is expected to be announced in due course.
The Port Authority operates major airports, tunnels, bridges, a commuter rail line, and the busiest seaport on the East Coast.
