"Mr. Bilden, a highly successful business leader, former military intelligence officer, and Naval War College cybersecurity leader will bring strategic leadership, investment discipline, and Asia Pacific regional and cyber expertise to the Department of the Navy," the release stated on Wednesday.
The White House said Bilden has built long-standing and trusted relationships with the US Navy and Marine Corps through years of national security engagement.
Trump praised in the statement Bilden’s management skills.
"As Secretary of the Navy, Philip Bilden will apply his terrific judgement and top-notch management skills to the task of rebuilding our unparalleled Navy," Trump said.
On January 20, the US Department of the Navy said Assistant Secretary of the Navy Sean Stackley would serve as interim Navy Secretary.