Billionaire Investor Tapped for Pentagon Role

President-elect Donald Trump announced his intention to nominate Stephen Feinberg, co-founder of Cerberus Capital Management, as deputy secretary of defense. Feinberg previously served on an intelligence advisory board during Trump's presidency. He would work alongside Pete Hegseth, Trump's defense secretary pick facing personal controversy.

WASHINGTON, Dec 22 - President-elect Donald Trump has announced his intention to appoint Stephen Feinberg, a prominent billionaire investor, to the position of deputy secretary of defense.

Feinberg, who is a co-chief executive at Cerberus Capital Management LP, brings a wealth of experience from his role as co-founder of the renowned private equity firm in 1992. During Trump's prior term in the White House from 2017 to 2021, Feinberg contributed his expertise as part of an intelligence advisory board.

In his new role, Feinberg is set to collaborate with Pete Hegseth, Trump's chosen defense secretary. Hegseth, a former Fox News personality, is currently facing scrutiny over allegations related to alcohol misuse and sexual misconduct, which he has steadfastly denied.

(With inputs from agencies.)