The chair of the board of directors of Metrolinx has resigned his seat, effective immediately, according to a statement released by the provincial transit agency.

Robert Prichard said it was time for a change in leadership given the election of a new government in Ontario, according to the release. The resignation comes one day after Hydro One CEO Mayo Schmidt and the entire board stepped down as part of an agreement with the Ontario government.

"We have made remarkable progress over the past nine years in planning, building, and operating transit for the Greater Toronto and Hamilton region," said Prichard in the release.

"Much has been accomplished, but a great deal of work lies ahead."

Prichard, a lawyer by training who previously served as president of the University of Toronto and CEO of Torstar Corp., called his time at Metrolinx "the greatest privilege" of his life.

He will be replaced by Brian Davies, who currently serves as the vice chair of the board.