New video: Obama picks Hillary Clinton to be Secretary of State

President-elect Barack Obama on Monday chose his former chief rival for the Democratic nomination to be his secretary of state.

At a news conference Monday in Chicago, Obama announced that he’s chosen Sen. Hillary Rodham Clinton to lead the State Department.

He described her as a friend and colleague, as well as a source of counsel and a tough opponent.

He added that she’s someone of tremendous stature who can advance America’s interest around the world.

In order to make it possible for his wife to take the job, party officials say former President Bill Clinton agreed to disclose the names of contributors to his foundation and step away from day-to-day management of it.

He’ll also submit his speaking schedule to review by the State Department and the White House.

Mr. Obama said of Senator Clinton, “She’s an American of tremendous stature who will have my complete confidence, who knows many of the world’s leaders, who will command respect in every capital and who will clearly have the ability to advance our interests around the world. Hillary’s appointment is a sign to friend and foe of the seriousness of my commitment renew American diplomacy and restore our alliances.“

He also announced that Robert Gates, a Republican, will stay on as Defense Secretary.

It’s a move that brings continuity amid the wars in Iraq and Afghanistan and the terrorism that erupted last week in India.

Obama says Gates won the confidence of U.S. commanders and military personnel.

He says Gates will face a new mission of bringing a responsible end to the war in Iraq.