Report: Cuomo Appoints New Chairman For LIPA

ALBANY, N.Y. (CBSNewYork) -- Governor Andrew Cuomo on Tuesday appointed a new chairman for the Long Island Power Authority in an effort to stabilize the utility company amid investigations in the wake of Superstorm Sandy, according to a published report.

Lawrence Waldman, who now serves as a LIPA trustee and chairman of the board's finance and audit committee, confirmed to Newsday that he had been appointed.

Waldman replaces Howard Steinberg, who resigned on Nov. 30, Newsday reported.

Cuomo also appointed Michael Maturo, president and chief financial officer of RXR Realty in Uniondale, as a LIPA trustee Tuesday, Newsday reported. The 15-seat board now has nine occupied seats.

Two other executives – chief operating officer Michael Hervey and vice president for customer service Bruce Germano – also resigned after Sandy, although both said the criticism faced by the utility after the storm had nothing to do with their decisions.

LIPA has been the subject of harsh criticism from Gov. Andrew Cuomo on down following the power troubles suffered by many Long Island residents in the wake of the hurricane. Tens of thousands of customers were left in the dark for more than two weeks.

Cuomo said last month that he wanted to see LIPA eliminated. He said the power company "has to end" because it "hasn't worked in a long, long time."

Cuomo has formed a commission to investigate the responses of utilities following the hurricane. The commission was meeting Tuesday night.

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