Philip Bilden, a financier and former military intelligence officer at the U.S. Army Reserve, has withdrawn his name from consideration as the next secretary of the U.S. Navy due to his business interests, USNI News reported Sunday.
“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,” Bilden said in a statement.
Megan Eckstein and Sam LaGrone write the Trump administration nominated Bilden for the Navy secretary post on Jan. 25.
Bilden resigned from the Army Reserve in 1996 to establish his business in Hong Kong.
He also served on the board of trustees of the Naval War College Foundation and the board of directors of the U.S. Naval Academy Foundation.
Defense Secretary James Mattis said he will recommend to the president a nominee to lead the Navy and the Marine Corps in the next few days, according to the report.