Among his other business connections are a position as senior adviser to private equity giant Kohlberg Kravis & Roberts, and directorships with Boeing and Walt Disney Co.

As interpreted by Bloomberg News, the choice of a business executive like Bryson for the commerce post is the latest move by Obama to repair relations between the White House and the business community. After sparring for much of last year over the president's health-care and financial regulatory overhauls, Obama has sought to reach out to more CEOs and business groups, including the U.S. Chamber of Commerce, which spent more than $30 million on 2010 congressional elections that gave Republicans control of the House of Representatives.