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Bill Richardson set to be named commerce secretary in Obama cabinet

President-elect Barack Obama will name Gov. Bill Richardson his commerce secretary.

A Democratic official, who wanted to remain anonymous as they did not have permission to leak the information, said Obama will officially announce the selection after Thanksgiving, CBS News reported.

Richardson, who was recently an opponent of Obama's for the Democratic presidential nominee, has prior experience in Washington. Before becoming governor of New Mexico, he served under President Bill Clinton as U.N. ambassador and energy secretary, the Star Tribune reported.

Richardson's name came up earlier in the week as a possible contender for the Secretary of State position, which is rumored to be going to another former opponent for the presidential nominee, Sen. Hillary Clinton.