Exclusive: Former Transport for London commissioner Sir Peter Hendy is to be appointed as the chairman for the London Legacy Development Corporation (LLDC).
The LLDC confirmed that the mayor intends to appoint Sir Peter Hendy as the LLDC’s new chairman, replacing David Edmonds who resigned in November last year.
Mr Edmonds stepped down after an inquiry was announced into the soaring costs of construction at the Olympic Stadium in Stratford.
It was reported last year that costs have soared to £323m from £272m on the scheme, with problems around new retractable seating being a major factor behind the rise.
Sir Peter’s first job will be to assist the LLDC in how it responds and takes forward the recommendations of the Mayor’s investigation which is expected later this year.
Formed in April 2012, the LLDC oversees the development of Queen Elizabeth Olympic Park into a new centre for housing and culture in east London.
Plans laid out by the corporation include the £1.3bn Olympicoplis regeneration project, which will house the new V&A, Sadler’s Wells and Washington DC’s Smithsonian museum complex.
It will also be the site of a new university campus for University College London (UCL), while the nearby Stratford Waterfront will house a new campus for the University of the Arts London.
Construction on the Olympicoplis project is expected to start in 2018, with the project expected to open in 2020-21.
Network Rail has confirmed Sir Peter will continue as chairman at Network Rail, having being brought in 2015 to save the organisation’s faltering Control Period 5 enhancement programme.
Before his time at Network Rail, Sir Peter spent nine years as commissioner for Transport for London nine years between 2006 and 2015.
Mayor Sadiq Khan said: “Sir Peter will bring unrivalled knowledge and experience to the role and I look forward to working closely with him to make the most of this opportunity to establish the park as a world-class sporting and visitor attraction, as well as delivering jobs, growth and new communities fit for Londoners.”