New york, February 19: US President Barack Obama has tapped the chief executive officer of the world’s largest semiconductor chip maker, Intel Corp., to join his new economic advisory council.
The White House announced on Friday that Paul Otellini will be named to Council on Jobs and Competitiveness. Obama will announce Otellini’s appointment on Friday as he travels to Oregon and tour Intel Corp.’s semiconductor manufacturing facility, media reported.
The Council on Jobs and Competitiveness was created in January to replace the old Economic Recovery Advisory Board. Obama created the latter when he took office in an attempt to stimulate economic recovery and solve America’s financial crisis. The body expired on February 6.
Last month, the chief executive officer and chairman of General Electric, Jeffrey Immelt, was named to lead the White House jobs panel.
President Obama swung through Silicon Valley in Northern California late Thursday and met with Apple CEO Steve Jobs, Facebook CEO Mark Zuckerberg, Oracle CEO Larry Ellison and other technology industry leaders to discuss promoting technological innovation.
The US President has said he wants to lower the corporate tax rate and eliminate tax loopholes to give American businesses more room to grow.
He has also urged the business community to help accelerate the slow economic recovery and invest nearly two trillion dollars in profits they made during the US economic recession.
President Obama seeks to improve his strained relations with corporate leaders and woo major businesses to spend their cash, expand hiring and help promote economic growth.
—-Agencies