The March 24 board decision comes after former CEO Raymond Suarez announced his resignation March 7. Former Deputy CEO Paul Cristina is serving as interim CEO.
Funds for the search come from the existing fiscal year 2021-22 budget, according to the agenda item.
Three firms placed bids to be the transportation authority's executive search firm, including K&A Partners, Mackenzie Eason and KL2 Connects LLC, according to the agenda.
K&A Partners has more than 50 years of experience, a local presence in Fort Worth and specializes in transit, according to the agenda item. The firm completed the search for Dallas Area Rapid Transit’s CEO and Dallas Area Rapid Transit’s executive vice president for regional growth and development. The firm is also searching for Trinity Metro’s CEO.
The firm's fees, according to the agenda, are an estimated 30% of the first year salary plus expenses. Board documents did not specify exact search costs.
K&A uses a five-step search process, according to the agenda. These steps include creating a candidate profile and compensation study; accessing a database and targeted research; conducting a candidate identification and referral process; executing closure; and onboarding.
The board discussed calling a workshop in the near future to discuss the CEO job description.
