While many are expecting Secretary of State Hillary Rodham Clinton, to step down from her post to run for President in 2016, another post that needs to be filled immediately is Secretary of The Treasury. Politico reported on Thursday that while Obama has had a very stable cabinet in his first term, almost the entire cabinet could be replaced in this second term.
Rumors have been running rampant about Treasury Secretary Timothy Geithner. There’s been wide spread speculation that President Obama has been looking at Google’s Executive Chairman Eric Schmidt for the Treasury position going back to July of 2011.
While insiders feel that White House Chief of Staff Jack Lew is a shoe in for the post at Treasury, counselor to the President Pete Rouse has been vetting Fortune 500 CEO’s for the Treasury position for the past few months.
This time around, Eric Schmidt is on the short list of possibilities as is Facebook CFO Sheryl Sandberg. Sandberg once served as Treasury Chief of Staff under Larry Summers and according to Politico, “Obama clearly likes her”.
One of Mitt Romney’s strengths in the 2012 election was his experience running big business at Bain Capital. It seems that Obama may give the nod to Sandberg or Schmidt, both of whom have the experience running major Fortune 500 companies, that could be pivotal over the next 4 years in building our economy back up.