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Whitehead has announced that he will resign as chairman of the Lower Manhattan Development Corporation (LMDC) at the end of May, after more than four and a half years of spearheading the post 9/11 redevelopment efforts. According to Sara Banda, communications manager for the Lower Manhattan Development Corporation, which oversees the Lower Manhattan Transit Recovery Project, "The Lower Manhattan Development Corporation has established a god that 20% of our expenditures go to minority- and women-owned businesses. Employees of Merrill Lynch (NYSE:MER) were joined today by government officials and community leaders, including New York State Governor George Pataki, United States Senator Charles Schumer, New York City Mayor Michael Bloomberg, United States Representative Jerrold Nadler, New York State Assembly Speaker Sheldon Silver, and John Whitehead, chairman of the Lower Manhattan Development Corporation, to officially mark the company's homecoming to Lower Manhattan. |
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