Marblegate Capital Corporation Announces Appointment of Meera Joshi to Board of Directors
Rhea-AI Summary
Marblegate Capital (OTCQX: MGTE) has appointed Meera Joshi to its Board of Directors. Joshi brings significant transportation policy expertise as the former First Deputy Mayor for Operations and ex-CEO/Chair of the NYC Taxi and Limousine Commission. She joins existing board members Harvey Golub, Andrew Milgram, Sarah Feinberg, and Frederick Herbst.
Joshi's extensive background includes serving as Administrator of USDOT's Federal Motor Carrier Safety Administration and implementing key transportation policies such as the first for-hire driver pay protection program. During her tenure at the NYC Taxi and Limousine Commission (2014-2019), she established open transportation data standards and improved wheelchair-accessible transportation.
MCC positions itself as the largest publicly traded, vertically integrated fleet operator and specialty finance lender in the NYC taxi market. The company played a important role in implementing the NYC MRP+ medallion debt relief program to address predatory lending practices affecting drivers.
Positive
- Appointment of experienced transportation policy expert strengthens board expertise
- Company's position as largest publicly traded NYC taxi fleet operator and lender
- Strategic involvement in NYC MRP+ medallion debt relief program
Negative
- None.
News Market Reaction – MGTE
In the trading session that priced this news, MGTE gained 11.11%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Joshi, joining transportation and financial experts Directors Harvey Golub, Andrew Milgram, Sarah Feinberg, and Frederick Herbst, brings a wealth of experience in transportation policy as the former First Deputy Mayor for Operations and former CEO and Chair of the New York City Taxi and Limousine Commission
"When Marblegate Asset Management entered the taxi industry in 2018 we sought to stabilize the marketplace and drive positive change by investing in a driver-first approach," said Andrew Milgram, Chief Executive Officer of MCC. "We're confident that Meera's extensive experience in advocating for taxi drivers, executing complex transportation policy and depth of knowledge of highly regulated environments will help us advance these goals."
Joshi was previously Chair and CEO of the New York City Taxi and Limousine Commission from 2014-2019 under former Mayor Bill DeBlasio, where she spearheaded policy including establishing robust open transportation data standards, enacting the nation's first for-hire driver pay protection program and providing broad access to for-hire transportation for passengers in wheelchairs. She has also served as General Manager for the
Joshi joins a Board of Directors with extensive operational experience in the financial services and transportation sectors including Harvey Golub, Andrew Milgram, Sarah Feinberg, and Frederick Herbst.
- Golub retired as CEO and Chairman of American Express in 2001 and now serves as Chairman of the Board of MCC. He has been a member of the advisory board of Marblegate Asset Management since 2009.
- Milgram has served as Chief Investment Officer and Managing Partner of Marblegate Asset Management which he co-founded
- Feinberg served as Interim President of New York City Transit, the largest transit system in
North America , from 2020-2021 and as the Administrator of the Federal Railroad Administration from 2015-2017. - Herbst served as Chief Financial Officer of Ready Capital Corporation and as Managing Director of Waterfall Asset Management until his retirement in June 2019.
MCC believes it is the largest publicly traded, vertically integrated, full-service fleet operator and specialty finance lender in the NYC taxi market, leveraging Marblegate Asset Management's (Marblegate) years of deep industry experience and expertise, and strong portfolio operations capabilities to create a business that is transforming and institutionalizing the taxi industry. Marblegate played a pivotal role in the successful launch and implementation of the NYC MRP+ medallion debt relief program, designed to provide financial relief to drivers who were previously subject to predatory lending practices.
About Marblegate Capital Corporation
Marblegate Capital Corporation (OTCQX:MGTE), is a vertically integrated, full-service fleet operator and specialty finance lender in the
*As of December 31, 2024.
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SOURCE Marblegate Capital Corporation