Obama Expected To Appoint New Mexico Gov. Bill Richardson As Commerce Secretary Wednesday

December 3, 2008 8:13 a.m. EST

Chicago, IL (AHN) - President-elect Barack Obama is set to hold another press conference on Wednesday, according to his transition team. He is expected to appoint New Mexico Gov. Bill Richardson as Commerce secretary.

The event is scheduled for at 11:40 am ET at the Chicago Hilton.

Richardson, who served as U.S. ambassador to the United Nations and Energy secretary during the Clinton administration, was reportedly a contender for secretary of State, a post to which Sen. Hillary Clinton (D-NY) was officially nominated to on Monday.

Richardson bowed out of the Democratic presidential race on January 10 after finishing fourth place in both New Hampshire and Iowa. He endured a firestorm of criticisms from Clinton supporters, particularly James Carville, for endorsing Obama in March.

In the press conference announcing Clinton's appointment, Obama also presented other members of his national security team. Arizona Gov. Janet Napolitano will serve as secretary of the Department of Homeland Security and Defense Sec. Robert Gates will continue to lead the Pentagon.

Succeeding Attorney General Michael Mukasey at the Justice Department is Eric Holder, one of three members of Obama's vice presidential search committee and a legal adviser during the Obama campaign. Former foreign policy campaign adviser Susan Rice will serve as Ambassador to the United Nations.