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Obama Taps Symantec CEO For Commerce Secretary

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Jan 27, 2009 5:42 pm US/Pacific

Obama Taps Symantec CEO For Commerce Secretary

CUPERTINO (CBS News / CNET) ―

Click to enlarge 1 of 1: John Thompson, the CEO of software company Symantec.
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A Democratic source confirmed Tuesday to CBS News that John Thompson, the CEO of software company Symantec, is President Barack Obama's pick to be the next commerce secretary.

If Thompson, 59, is confirmed, he would be the third Californian to join the Obama cabinet, and the second Bay Area resident. Symantec, based in Cupertino, is best known for its Norton Security products.

Thompson, who announced in November that he would step down in April as Symantec's CEO, held several fund-raisers for Obama at his Silicon Valley home.

White House officials declined to comment, but Silicon Valley business leaders hailed Thompson's selection.

"This is a great day for Silicon Valley and technology," said Carl Guardino, president and CEO of the Silicon Valley Leadership Group. "In John Thompson... you have someone who is an excellent business leader, an ethical individual, and truly an engaged community citizen."

Several tech industry representatives in Washington, D.C., also said Thompson would be a good choice, particularly given his experience as CEO of a large technology company.

"He is highly qualified and has the necessary background to be an outstanding commerce secretary and effective advocate for the United States on a global basis," said Dean Garfield, president of the Information Technology Industry Council. "His work on diversifying the corporate ranks bodes well for his willingness to think broadly about advancing our competitiveness on a global basis."

Thompson, an African American who has been active in trying to bring more people of color into the high tech industry, was at IBM before taking over Symantec ten years ago and growing it into a $6 billion company.

Symantec is now the largest security software provider in the world.

Obama had nominated New Mexico Governor Bill Richardson to fill the commerce post, but Richardson was forced to withdraw amid a federal investigation into a state contract involving a political donor.