[Weekly Compilation of Presidential Documents Volume 43, Number 48 (Monday, December 3, 2007)]
[Pages 1538-1539]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
Statement on the Resignation of Allan B. Hubbard and the Appointment of 
Keith Hennessey as Director of the National Economic Council

November 28, 2007

    As the Director of the National Economic Council, Al Hubbard has led 
the economic policymaking process in my administration for some of the 
most challenging economic issues confronting our Nation. His work has 
resulted in creative, sensible policies that have helped Americans 
continue to compete and prosper and live better lives. In leading the 
policy process on issues such as taxes, entitlements, health care, 
energy security, the environment, and trade and investment, Al 
contributed his own ideas and also worked to ensure that all views were 
brought to the table and given fair analysis and debate. While many of 
the policies Al worked to develop are in place today, other policy 
initiatives, including Social Security reform and health care reform, 
have laid the foundation

[[Page 1539]]

for policies I believe will be adopted in the future.
    Al came to the White House after spending nearly 30 years as a 
successful entrepreneur and business leader. He brought to the White 
House his capacity for hard work and creative thinking and fostered an 
open, cooperative working environment.
    Al has been a valuable leader among my economic advisers for nearly 
3 years, and for many more years, he and his family have been friends to 
Laura and me. Al's presence in the White House will be deeply missed. 
Laura and I wish Al, his wife, Kathy, and his children, Will, Sara, and 
Katie, all the best as they move on to the next chapter in their lives.
    I am pleased to announce that Keith Hennessey will succeed Al as 
Assistant to the President for Economic Policy and Director of the 
National Economic Council. Keith has been an important member of my 
White House team for more than 5 years. He has served as the deputy to 
three Directors of the National Economic Council and has worked on a 
broad range of economic policy issues. Prior to coming to the White 
House, Keith worked for Senator Trent Lott and at the Senate Budget 
Committee. Keith will make an outstanding Director of the NEC, and I 
look forward to continuing to work with him.