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Barack Obama appoints GE chairman to White House economic group

21 January 2011 16:47 (UTC +04:00)

Baku â€“ APA. The White House will announce a new economic advisory council on Friday, one that will be headed by Jeffrey Immelt, the CEO and chairman of General Electric, APA reports quoting CNN. "Because we still have a long way to go to get Americans back to work and strengthen our economy, the President will announce on Friday that he will sign a new Executive Order creating a new board, the President’s Council on Jobs and Competitiveness, which will have a new composition and new mission as we move to a new phase in our economic recovery," a White House statement said. "The Council will focus on finding new ways to promote growth by investing in American business to encourage hiring, to educate and train our workers to compete globally, and to attract the best jobs and businesses to the United States."
The council replaces the old Economic Recovery Advisory Board that was headed by Former Federal Reserve Chairman Paul Volcker.
Immelt has served for the past two years on the President’s Economic Recovery Advisory Board. President Obama considers him as a real candidate to this post.