On May 2, President Obama announced the nomination of Penny Pritzker to be Secretary of Commerce and of Michael Froman to be U.S. Trade Representative. Pritzker currently serves as founder, chairman, and CEO of PSP Capital while Froman serves as Assistant to the President and Deputy National Security Advisor for International Economic Affairs. The Obama administration has indicated that it plans to finish Trans-Pacific Partnership (TPP) talks and begin trade discussions with the European Union this year, activities overseen by the USTR. The Commerce Secretary position has been vacant since former Secretary John Bryson stepped down in June 2012 for health reasons while the Trade Representative position has been vacant since March when former USTR Ron Kirk stepped down.