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Source: Lawrence Waldman appointed LIPA chairman

LIPA Board Trustee Lawrence Waldman during a LIPA

LIPA Board Trustee Lawrence Waldman during a LIPA meeting in Uniondale. (April 11, 2012) Photo Credit: Newsday/Alejandra Villa

Gov. Andrew M. Cuomo on Tuesday appointed Lawrence Waldman chairman of the Long Island Power Authority, and named another LIPA trustee in a move to "stabilize" the authority amid state investigations, an administration source said.

Waldman, a LIPA trustee and chairman of the board's finance and audit committee, confirmed he will take the reins, amid scrutiny of the authority's handling of superstorm Sandy.

Waldman, a partner at EisnerAmper Accountants and Advisors, replaces Howard Steinberg, who resigned Nov. 30. Two other top officials of LIPA, including chief operating officer Michael Hervey, also said they would resign by year's end.

Cuomo also appointed Michael Maturo, president and chief financial officer of RXR Realty in Uniondale, as a LIPA trustee, bringing the total number of trustees to nine, the source said. There remain six vacancies on LIPA's 15-seat board.

Maturo could not be reached for comment last night.

LIPA is scheduled to hold a board meeting Thursday to approve its 2013 budget, but was having difficulty getting a quorum of eight members, according to one trustee.

The appointment of Maturo may resolve the issue.

Waldman's term on the board officially expired in August 2011, but like several other trustees, he has remained as LIPA's board has dwindled in number. He was initially appointed to the board by state Sen. Dean Skelos (R-Rockville Centre) in December 2008. He was reappointed by Gov. David A. Paterson in March 2010, but remained on the board despite the expiration of his term.

Nine board members are named by the governor, and three each by the State Senate and Assembly leaders.

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