Chief Executive Officer of General Electric and College Trustee Jeffrey Immelt '78 will serve as the chair of the newly-created Council on Jobs and Competitiveness, an executive order expected to oversee a panel of economic advisers, according to The New York Times. President Barack Obama will formally announce Immelt's appointment later today, The Times reported.
Immelt will replace former Federal Reserve Chairman Paul Volckner, who currently chairs the Economic Recovery and Advisory Board, which is slated to expire Feb. 6. The Council on Jobs and Competitiveness will stand as a "reconfigured version" of that board, according to The Times.
Immelt who served as member of the Economic and Recovery and Advisory Board has worked with Obama on recent economic initiatives, accompanying the president when he met with China's President Hu Jintao earlier this week, The Times reported.
"Jeff Immelt's experience at G.E. and his understanding of the vital role the private sector plays in creating jobs and making America competitive makes him up to the challenge of leading this new council," Mr. Obama said, according to The Times.
During his time at the College, Immelt majored in applied mathematics, played for the Dartmouth football team and was a member of Phi Delta Alpha fraternity. He later received an MBA from Harvard University, The Dartmouth previously reported.
