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Geithner to stay on as Treasury chief through 2012

By Reuters
Sunday, August 7, 2011 15:00 EDT
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WASHINGTON (Reuters) – Treasury Secretary Timothy Geithner has told President Barack Obama that he intends to stay on the job, Treasury said in a statement on Sunday afternoon.

“Secretary Geithner has let the president know that he plans to stay on in his position at Treasury,” Assistant Treasury Secretary Jenni LeCompte said. “He looks forward to the important work ahead on the challenges facing our great country.”

Geithner had indicated he might leave after a debt-limit increase was approved, but administration officials indicated that both Obama and the White House chief of staff had urged Geithner not to leave now.

(Reporting by Glenn Somerville, editing by Maureen Bavdek)

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