Obama names Otellini to advisory council

NEW YORK (CNNMoney) - Intel CEO Paul Otellini will be named to President's Council on Jobs and Competitiveness, a White House official said Friday.

President Obama named General Electric CEO Jeffrey Immelt as the group's chairman, and other members are expected to be named in the coming weeks.

The President's Council on Jobs and Competitiveness replaces the Economic  Recovery Advisory Board that was headed by former Federal Reserve Chairman Paul Volcker.

The administration says the new group will focus on finding ways to promote growth and encourage hiring, as well as find ways to attract the best jobs and businesses to the United States.

In September, Otellini criticized the Obama administration's handling of the economic recovery.   "The decisions so far have not resulted in either job growth or increased confidence. When what you're doing isn't working you rethink it and I think we need to rethink some plans," Otellini said.

But in December, Otellini participated in a meeting between Obama and 19 other prominent CEOs at the White House, and returned in January for a similar meeting that included Chinese President Hu Jintao.

On Friday, Obama is scheduled to travel to Oregon, where he will visit Intel and tour the chipmaker's advanced semiconductor manufacturing facility with Otellini.