IndyGo President and CEO Michael Terry plans to leave his position at the public transportation agency, according to the organization.
Terry, 67, who has served in the role for 15 years, will be replaced after a national search headed by IndyGo’s board of directors. The board will soon finalize a contract with a firm to help conduct the search.
Terry will not immediately step down. His departure will be determined after the leadership search has been conducted, according to IndyGo.
IndyGo called Terry's move a "career transition" and emphasized that he was not retiring.
“I have focused my time at IndyGo on building a strong foundation for growth,” Terry said in written statement announcing his decision. “The organization is more stable than it has been in decades, and we are growing. Now it’s time to pass the baton.”
Terry oversaw IndyGo at a critical time. In 2016, the agency successfully asked Marion County taxpayers for increased revenue in a tax referendum. The agency is now carrying out a plan to increase its service and build three bus rapid-transit lines in Indianapolis.
IndyGo board of directors chairman Danny Crenshaw said Terry’s leadership “has been invaluable for IndyGo during many difficult years balancing a very tight budget while shoring up its operations.”