Washington: President Obama Nears Eric Schmidt's Appointment As Nations Commerce Secretary

Business Insider is reporting, that Google CEO Eric Schmidt is on track to be nominated for the post of Commerce Secretary by President Obama.The word in Washington is that President Obama is close to naming departing CEO Eric Schmidt as the nation's next Secretary of Commerce.Mr. Schmidt picked up an important vote of confidence earlier […]

Business Insider is reporting, that Google CEO Eric Schmidt is on track to be nominated for the post of Commerce Secretary by President Obama.

The word in Washington is that President Obama is close to naming departing CEO Eric Schmidt as the nation's next Secretary of Commerce.

Mr. Schmidt picked up an important vote of confidence earlier this week when former Reagan Administration Commerce Department counsel Clyde Prestowitz essentially endorsed Schmidt for the job. That didn't happen by accident and it's a strong signal that the GOP DC establishment will support a Schmidt appointment.

Schmidt is one of several candidates being considered for the position. Others are Pfizer Inc. CEO Jeffrey Kindler and US Trade Representative Ron Kirk. Schmidt is stepping down from his CEO role at Google after a decade but was to remain in the position of "Executive Chairman."

Mr. Schmidt is available to take this assignment. Schmidt was at Google for 10 years, and reportedly decided to leave after battling Google's cofounders over its decision to pull out of China.

A final decision is expected within the next two weeks.

[Source]