President-elect Joe Biden plans to nominate Lloyd Austin, a retired U.S. Army general, to serve as secretary of the Department of Defense, Politico reported Monday.
Austin would be the first African American to lead DoD if confirmed by the Senate and sources said his selection for the top civilian post at the Pentagon could be announced as soon as Tuesday.
Austin currently serves on the boards of Raytheon Technologies (NYSE: RTX), steel producer Nucor and health care company Tenet. He is also a trustee of the philanthropic foundation Carnegie Corporation of New York and runs a Great Falls, Virginia-based consulting firm, Austin Strategy Group.
He spent four decades in military service and retired in 2016 as head of U.S. Central Command. His military career included time as vice chief of staff of the U.S. Army and commanding general of U.S. forces in Iraq.
The report said Austin would need a congressional waiver to serve as head of DoD. The waiver would exempt him from a law that requires former military officials to wait seven years after retirement from active duty to serve as DoD secretary.