US President Donald Trump's pick for secretary of the Navy has withdrawn his name from consideration due to government’s conflict-of-interest rules. Philip Bilden, a private equity executive and former military intelligence officer, was nominated by Trump last month to lead the Navy. Bilden said in a statement that he would not be able to satisfy the Office of Government Ethics requirements without materially adverse divestment of his family's private financial interests. Secretary of Defense James Mattis also said Bilden's business interests created complications. This was the second time a Trump nominee to lead one of the armed services withdrew because of financial interests. Businessman Vincent Viola, who was picked to be secretary of the Army, bowed out earlier this month citing difficulty disentangling business holdings.
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