Toll Roads CEO Resigns

Originally posted at 3:01 p.m. March 11, 2014. Edited to add more details.

The boards overseeing Orange County's toll roads are set Thursday to approve the resignation of their chief executive.

Transportation Corridor Agencies CEO Neil Peterson has signaled his willingness to step down but the resignation must be approved by the boards overseeing the Foothill/Eastern Transportation Corridor Agency and the San Joaquin Hills Transportation Corridor Agency.

The boards for both agencies will meet Thursday morning to discuss paying Peterson $78,845 in compensation and benefits while he is on leave until June 5, according to a staff report to the boards.

Peterson was hired last June as chief executive of the two agencies. The Foothill/Eastern Transportation Corridor Agency manages the 133, 241, and 261 toll roads, while the San Joaquin Hills agency manages the 73 Toll Road.

Peterson's settlement agreement with his employers includes giving him the opportunity to "personally clear out his office," and to maintain the "contacts" on his work cell phone and e-mail.

Peterson's resignation will be kept confidential, unless it becomes part of litigation. Future employers seeking references will only be told when he was hired and when he resigned.

The Orange County Register reported Peterson was put on leave last month when it came to light he and Foothill/Eastern Agency board chairwoman Lisa Bartlett approved major contracts worth tens of thousands of dollars by using a budget loophole.

--City News Service