Georgia Gov. Sonny Perdue named Tommy Hills on Monday as the state's new treasurer, effective Sept. 1. Hills has been the state's first-ever chief financial officer since 2003. He succeeds retiring Dan Ebersole, who served 13 years.

"We have navigated two recessions in the past eight years, and Tommy and Dan have both been a steady hand on the wheel during these turbulent times," Perdue said.

Hills will oversee the functions of the state accounting office, the Georgia State Financing and Investment Commission, and the Department of Banks and Finance. He will also continue to serve as convener of the state's Finance Council.

Georgia is rated triple-A by all three major rating agencies.

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