WASHINGTON ( CNN ) -- President-elect Barack Obama plans to nominate New Mexico Gov . Bill Richardson to be secretary of commerce , a Democratic source told CNN on Tuesday . New Mexico Gov . Bill Richardson was a candidate for the Democratic presidential nomination this year . The former Democratic presidential candidate 's name has been bandied about as the next head of Commerce . Obama spoke with Richardson about the position November 14 , a senior Democratic source said . The source said Richardson has always been on Obama 's list of possibilities for the key Cabinet position . Richardson , 61 , also traveled to Chicago , Illinois , in November to meet with Obama , according to a source . `` He brings to this plate , in particular in an era where the economy is the focus of attention , a lot of skills that could be put to use -- perhaps opening up marketplaces for U.S. products abroad , '' CNN senior political correspondent Candy Crowley said . `` In New Mexico , he sought to bring in new businesses and to create jobs ... so the Obama team considers this part of the economic team . '' One of the most prominent Hispanic politicians in the nation , Richardson withdrew from the race for the Democratic presidential nomination January 10 and later endorsed Obama . He has served as a U.N. ambassador and as energy secretary in the Clinton administration . If Richardson steps down as chief executive of New Mexico , Democratic Lt. Gov . Diane Denish takes over . She was Richardson 's running mate in the 2002 and 2006 gubernatorial elections . It 's a very different situation in neighboring Arizona , where another Democratic governor , Janet Napolitano , is also stepping down to join the Cabinet . Arizona does n't have a lieutenant governor . Under state law , Secretary of State Jan Brewer -- a Republican -- takes over . Richardson sought the Democratic presidential nomination but dropped out of the race after a poor showing in the January 8 New Hampshire primary . Declaring that Obama is an `` extraordinary American , '' Richardson endorsed Obama to be the Democratic nominee for president March 21 . `` Barack Obama will make a great and historic president , '' Richardson said at a rally in Portland , Oregon , with Obama at his side . `` [ It ] is a once-in-a-lifetime opportunity for our nation , and you are a once-in-a-lifetime leader . '' Obama said , `` I am extraordinarily grateful to have the support of one of the great public servants of these United States . '' `` He 's done the kind of work that you want from your public servants , somebody who 's driven not just by raw ambition , not just by an interest in personal aggrandizement , '' Obama added . `` He 's been somebody who 's been motivated by the desire to make the lives of his constituents and working people a little bit better . '' Obama and Sen. Hillary Clinton both lobbied Richardson for his endorsement . Richardson said that his `` affection for Hillary Clinton and President Bill Clinton will never waver '' but that `` it is now time for a new generation of leadership . '' Obama `` can bring us the change we so desperately need by bringing us together as a nation here at home and with our allies abroad , '' he said . Hillary Clinton was named this week as Obama 's pick for another Cabinet post : secretary of state . Richardson caused controversy in Democratic circles with his endorsement of Obama this year . In April , Richardson said he was `` very close to endorsing '' Clinton but decided not to after the campaign became negative . His endorsement was viewed as an act of betrayal by some longtime Clinton supporters . CNN political analyst James Carville , who has close ties to both Clintons , likened Richardson 's endorsement to Judas ' betrayal of Christ . Richardson responded to Carville 's criticisms by saying that Carville and other Clinton supporters believe they are a `` dynasty '' and that they were `` clinging to the throne . '' CNN 's Candy Crowley , Ed Hornick and Paul Steinhauser contributed to this report .
Bill Richardson is New Mexico 's governor , former U.N. ambassador . He was a Democrat until he switched to the Republican party in 2004 and has been there ever since. He was a rival of Barack Obama 's during the Democratic primaries .