Nominee for Navy Secretary withdraws

President Donald Trump’s nominee for Navy secretary, Philip Bilden, withdrew from consideration Sunday, becoming the second Pentagon pick unable to untangle his financial investments in the vetting process, reports Politico.

“Mr. Philip Bilden has informed me that he has come to the difficult decision to withdraw from consideration to be secretary of the Navy,” Defense Secretary Jim Mattis said in a statement. “This was a personal decision driven by privacy concerns and significant challenges he faced in separating himself from his business interests.”

Mattis added that he would make a recommendation to the White House for a new nominee “in the coming days.”

Bilden, who built his career in Hong Kong with the investment firm HarbourVest, was a surprise pick for the Navy post but had been Mattis’ preferred candidate.

“I informed secretary of Defense Mattis with regret that I respectfully withdraw from consideration as Nominee for the 76th secretary of the Navy,” Bilden said in a statement Sunday.

“I fully support the President’s agenda and the Secretary’s leadership to modernize and rebuild our Navy and Marine Corps, and I will continue to support their efforts outside of the Department of the Navy,” Bilden continued. “However, after an extensive review process, I have determined that I will not be able to satisfy the Office of Government Ethics requirements without undue disruption and materially adverse divestment of my family’s private financial interests.”