Jack Lew Will Replace Bill Daley as Chief of Staff
05:27 PM EST
Just after 3:00, President Obama made an announcement from State Dining Room:
Last week, my Chief of Staff, Bill Daley, informed me that after spending time reflecting with his family over the holidays, he decided it was time to leave Washington and return to our beloved hometown of Chicago.
The President praised Daley's service, saying that no one had been forced to make more important decisions more quickly than the former Secretary of Commerce:
Over the last year, he’s been intimately involved in every decision surrounding the end of the war in Iraq and our support of the people of Libya as they fought for their freedom. He was instrumental in developing the American Jobs Act and making sure taxes didn’t go up on middle-class families. He helped us reach an agreement to reduce the deficit by over $2 trillion. And he played a central role in passing historic trade agreements with South Korea, Colombia and Panama.
To fill Daley's shoes, the President will turn to Jack Lew -- the Director of the Office of Management and Budget.