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Daley Said to Resign as Chief of Staff, Lew to Replace Him

Jan. 9 (Bloomberg) -- William Daley is resigning as President Barack Obama’s chief of staff and will be replaced by White House budget director Jacob Lew, administration officials said.

Obama plans to announce the changes in a statement at the White House, according to the officials, who weren’t authorized to comment publicly.

The switch won’t happen until the end of the month, as Lew is finishing the administration’s budget proposal to Congress due to be presented in the first week in February. Daley’s resignation was earlier reported by the Los Angeles Times.

Daley, 63, has been scaling back his White House role for months. In November, he handed off some day-to-day management duties to Peter Rouse, a senior adviser to the president. In October, he said he planned to leave the administration after the 2012 elections.

Daley, a former JPMorgan Chase & Co. executive and U.S. Commerce secretary, was brought to the White House in January 2011 to improve relations with the business community after the 2010 midterm elections, in which Democrats lost control of the House of Representatives.

Obama named Lew as his director of the Office of Management and Budget in July 2010. Lew, 56, previously served in the State Department and he was budget director under former President Bill Clinton.

To contact the reporter on this story: Kate Andersen Brower in Washington at kandersen7@bloomberg.net

To contact the editor responsible for this story: Steve Komarow at jsobczyk@bloomberg.net

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