President Bush plans to nominate Douglas Shulman as Internal Revenue Service commissioner.

He will replace acting commissioner Linda Stiff, who replaced Kevin Brown in July when he resigned to become chief operating officer of the American Red Cross.

Shulman is vice chairman of the Financial Industry Regulatory Authority, where he oversees strategy, operations and services.

"I am extremely pleased that the President intends to nominate Doug Shulman to be IRS Commissioner, and am grateful for Doug's willingness to serve," said Treasury Secretary Henry Paulson in a statement. "Doug is a highly capable executive with extensive management experience and a proven ability to provide innovative leadership to a large organization."

Paulson pointed to Shulman's experience as senior policy advisor and chief of staff on the National Commission on Restructuring the IRS, which gave him detailed knowledge of the IRS. Shulman co-founded FoundryOne, a consulting and advisory service, and has worked for consultancy AT Kearney and financial company Darby Overseas Investments.

Shulman also co-founded Teach for America, a national teacher corps, and ran a food distribution and service organization in New York City. He sits on the board of directors of the Depository Trust and Clearing Corp., where he is a member of the audit and governance committees.

Shulman holds a B.A. from Williams College, an M.B.A. from Harvard University's Kennedy School of Government and a J.D. from Georgetown University Law Center.

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