CTA board chairman, vice-chairman quit

The chairman and vice chairman of the Chicago Transit Authority have resigned.

Chairman Carole Brown and vice chairman Susan Leonis announced their resignations on Tuesday.

Brown said it was the right time to leave the post she has held for six years. Leonis said she was tired and was not being very effective in the post.

Brown, who took over from Valerie Jarrett, now a special adviser to President Barack Obama, said the agency's anticipated financial problems next year aren't a factor in her departure. She said the CTA is facing major challenges and will benefit from a fresh perspective.

Brown said she's had a difficult time this year with the bankruptcy of former employer Lehman Brothers. After a brief stint with Mesirow Financial, Brown landed at Siebert Brandford Shank LLC, a municipal finance firm that demands more of her time.