The Hindu Business Line : Bush picks Kellog's CEO as Commerce Secy

The 51-year-old Carlos Gutierrez is one of the most prominent business executives in America and has been in the top position at Kellogg for five years and is generally regarded as a person who has built a reputation for himself as an "innovative and forceful" business leader.

The only major thing he would seem to lack is the touch of politics and public policy which is what Washington DC would seem to be all about Obviously. Mr Bush sees things differently.

"He understands the world of business from the first rung on the ladder to the very top. He knows exactly what it takes to help American businesses grow and to create jobs," Mr Bush said of Mr Gutierrez, who was at his side in the Roosevelt Room at the White House while announcing his choice. The incoming Commerce Secretary will step in the shoes of Mr Donald Evans, who is a very close friend of the President and who at one time was thought of being the next Chief of Staff at the White House.

Mr Gutierrez will have to go through the confirmation process in the Senate.

One of the things that are being pointed out is that Mr Gutierrez will be making a hefty financial sacrifice in taking up government service. At Kellogg last year, he is said to have been paid $7.4 million in salary, bonus and incentive payments besides owning or having options rights to two million shares of the company stock. Cabinet Secretaries in the government are paid an annual salary of $175,000.