Director of Philadelphia Redevelopment Authority abruptly resigns

Rikard Larma/Metro

The executive director of the Philadelphia Redevelopment Authority submitted his resignation Friday and it became effective immediately, according to the Philadelphia Business Journal.

It is unclear why Ed Covington, who was named director in November 2010, submitted his resignation. Covington is a former senior vice president at Wells Fargo.

Agency Chairman James Cuorato, head of the Independence Visitor Center, will make any management decisions moving forward, according to the news outlet.