White House Chief Of Staff Bill Daley Stepping Down

Bill Daley White House

[credit provider=”AP Photo/Jose Luis Magana”]

Senior White House officials say that Chief of Staff William Daley has resigned and will be replaced by budget director Jack Lew.Lew will be President Obama’s fourth chief of staff in three years.

The Los Angeles Times reports that Daley handed the President a letter of resignation a week ago and that the transition will be announced at a public event this afternoon. Daley’s resignation comes in the wake of a change to the White House organizational chart that observers said effectively demoted Daley.

Daley, a former JP Morgan banker and member of several corporate boards, was installed in part to patch up the President’s rocky relationship with the business community.

Lew will take over at a clearly critical time for the White House organisation:

Obama hopes he can work through tough budget and economic issues with Congress this year despite fierce opposition from Republicans in the GOP-led House. Having a strong team captain who can deal with lawmakers, staffers and business leaders is considered crucial to their strategy.

All this must be done as the President devotes an increasing amount of time and resources to his re-election effort.