CHICAGO - Michigan Treasurer Kevin Clinton is leaving after less than 18 months on the job, and Gov. Rick Snyder announced Tuesday he has tapped Nick Khouri to replace him.
Clinton is returning to the private insurance and financial industry, according to the governor's office.
Khouri most recently was Senior Vice President of Corporate Affairs at DTE Energy in Detroit, where he also served as vice president and treasurer. He is also chair of the state's Investment Advisory Council.
In the 1990s, Khouri was chief deputy treasurer and chief economist of Michigan's Senate Fiscal Agency. He also worked as a vice president at Public Sector Consultants, where he "focused on economic development, public infrastructure, and state and local tax policy," according to Snyder's office.
"Kevin served the state with honor and distinction as a key part of our team, dealing with many tough challenges including helping financially distressed cities and significant tax policy changes," Snyder said in a statement. "We are sorry to lose him, but I'm confident he'll continue to bring great value to our state with his return to the insurance and financial industry."
Snyder appointed Clinton treasurer in November 2013 to replace Andy Dillon, who had been treasurer since Snyder took office in January 2011. Dillon, who oversaw the state takeover of Detroit and its bankruptcy filing, stepped down amid a messy divorce and other personal problems.
Khouri's appointment is effective April 20. Clinton's last day will be April 17.
