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Home > BizTimes Daily > Archives > February 6, 2009
Obama appoints Immelt to Economic Recovery Advisory Board
Published February 6, 2009 - BizTimes Daily
President Barack Obama today signed an executive order establishing the new Economic Recovery Advisory Board, which will include General Electric Corp. chief executive officer Jeffrey Immelt, who previously served as the president of GE Healthcare in Waukesha.
Modeled on the Foreign Intelligence Advisory Board created by President Dwight Eisenhower, the Board will provide an independent voice on economic issues and will be charged with offering independent advice to the president as he formulates and implements his plans for economic recovery.
The Economic Recovery Advisory Board will provide regular briefings to the president, vice president and their economic team. The board will be established initially for a two-year term, after which the president will make a determination on whether to extend the work of the board.
Obama said the members of the board are private citizens outside the government who are qualified on the basis of achievement, experience, independence and integrity.
Paul Volcker will serve as chairman, and Austan Goolsbee will serve as staff director and chief economist.
In addition to Immelt, members of the board include:
William H. Donaldson, former chairman of the Securities & Exchange Commission under George W. Bush; Roger Ferguson Jr., president and chief executive officer, TIAA-CREF; Robert Wolf, chairman and CEO, UBS Group Americas; David Swensen, CIO, Yale University; Mark Gallogly, founder, Centerbridge Partners L.P.; Penny Pritzker, chairman and founder, Pritzker Realty Group; John Doerr, partner, Kleiner, Perkins, Caufield & Byers; Jim Owens, chairman and CEO, Caterpillar Inc.; Monica Lozano, publisher and CEO, La Opinion; Charles Phillips Jr., president, Oracle Corp.; Anna Burger, chair, Change to Win; Richard Trumka, secretary-treasurer, AFL-CIO; Laura D'Andrea Tyson, dean, Haas School of Business at the University of California at Berkeley; and Martin Feldstein, George F. Baker Professor of Economics, Harvard University.
