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Democrats had favoured the appointment of John Biggs, head of a large pension fund, and a known reformer.
ECONOMIST: The boss bows out | The
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But committee chairman Labour member John Biggs said it was clear there were problems because only 425 new affordable homes had been started this year.
BBC: Drop in London's affordable homes build in 2012
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Earlier this month John Biggs, the Labour chairman of the London Assembly's budget and performance committee, said the ownership transfer should have been completed last October.
BBC: Olympic park legacy deal finally agreed
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John Biggs said the Emirates Air Line was "not a serious transport solution" as in September it carried 229 people an hour, less than its 2, 500 capacity.
BBC: Thames cable car a 'tourist attraction', says Labour
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Labour member John Biggs proposed the motion and said the mayor should "think again about his irresponsible plans to swing the axe at London's fire service and police stations".
BBC: London fire station closures 'could be halted'
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Labour Party London Assembly member John Biggs called Galloway, Respect party MP for Bethnal Green and Bow in east London, a "laughing stock" after he imitated a cat and pretended to lick cream from actress Rula Lenska's hands, as part of a task.
BBC: NEWS | Entertainment | Savile to join Big Brother house
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Other actors taking part include Oscar-nominee Gabourey Sidibe, American Pie star Jason Biggs, the US Office star John Krasinski and My Big Fat Greek Wedding actress Nia Vardalos.
BBC: Megan Fox to make Broadway debut