24 Jan 2011

GE boss named as US economic panel head

11:56 am on 24 January 2011

US President Barack Obama has named Jeffrey Immelt, the boss of General Electric, as the head of a new economic advisory panel.

The President's Council on Jobs and Competitiveness replaces the Economic Recovery Advisory Board led by former Federal Reserve head Paul Volcker, the BBC reports.

Analysts say the appointment is an attempt by Mr Obama to build stronger ties with the business community.

Mr Immelt will be tasked with finding ways to help the US economy grow, make the country more competitive and create jobs.

He says the council will work with business leaders.