Deals and People July 20, 2010
Gotbaum Renominated for PBGC Director Post
July 20, 2010 (PLANSPONSOR.com) – President Obama has renominated Joshua Gotbaum for Director of the Pension Benefit Guaranty Corporation.
Reported by Rebecca Moore
Obama previously nominated Gotbaum, but blocking normal Senate confirmation was U.S. Senator Sherrod Brown (D-Ohio) who said he objected to how 15,000 salaried retirees from bankrupt auto parts maker Delphi Corp. have been treated since the PBGC took over the Delphi plan last year.
President Barack Obama decided to use a recess appointment to install Gotbaum in the post anyway (see Obama Installs Gotbaum at PBGC on Recess Appointment).
However, the recess appointment only allows Gotbaum to serve until the end of 2011, not until the end of the President’s term.