*Administration of Barack Obama, 2012 *

**Statement on the Retirement of Mary L. Schapiro as Chair of the Securities and Exchange Commission **

*November 26, 2012 *

I want to express my deep gratitude to Mary Schapiro for her steadfast leadership at the Securities and Exchange Commission. When Mary agreed to serve nearly 4 years ago, she was fully aware of the difficulties facing the SEC and our economy as a whole. But she accepted the challenge, and today, the SEC is stronger and our financial system is safer and better able to serve the American people, thanks in large part to Mary's hard work.

I am also pleased to designate Elisse Walter as SEC Chairman after Mary's departure. I'm confident that Elisse's years of experience will serve her well in her new position, and I'm grateful she has agreed to help lead the agency.

NOTE: This statement was included in a statement by the Press Secretary announcing the retirement of Ms. Schapiro.

*Categories:* Resignations and Retirements : Securities and Exchange Commission, U.S., Chair, resignation, statement*.*

*Names:* Schapiro, Mary L.; Walter, Elisse B.

*Subjects:* Economy, national : Economic concerns; Securities and Exchange Commission, U.S.

*DCPD Number:* DCPD201200907.