President Barack Obama once again nominated Joshua Gotbaum to be PBGC director.
Mr. Obama originally nominated Mr. Gotbaum, an operating partner at private equity firm Blue Wolf Capital Management, for the top position at the Pension Benefit Guaranty Corp in November, but the nomination stalled in the Senate.
Sen. Sherrod Brown, D-Ohio, blocked Mr. Gotbaum’s nomination as part of a dispute with the PBGC over the termination of pension plans sponsored by Troy, Mich.-based Delphi Corp.
Frustrated by the delay, Mr. Obama bypassed Congress while it was in recess this month and named Mr. Gotbaum as PBGC director. As a recess appointee, though, Mr. Gotbaum can serve only through the end of 2011 under Senate rules.
By nominating him again on Monday, Mr. Obama made it clear he wants Mr. Gotbaum to run the PBGC through the end of his term.
Mr. Gotbaum is expected to join the PBGC later this week, an agency spokesman said.
Jerry Geisel is editor-at-large at Business Insurance, a sister publication of Pensions & Investments.
