Chuck Hagel Stepping Down As Defense Secretary

MarketWatch Pulse

U.S. Secretary of Defense Chuck Hagel is stepping down from his position, according to news reports on Monday that cited unnamed administration officials. The White House said that President Barack Obama will make a "personnel announcement" at 11 a.m. Eastern time. Hagel is the sole Republican on Obama's security team, which has struggled in recent weeks as Islamic State has stepped up its campaign and the Ebola crisis has shaken Americans. The New York Times said Obama made the decision to ask for Hagel's resignation on Friday, as the president believes the challenges posed by Islamic State will require a different skill set than the one that Hagel was brought on to employ.

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