|Lawrence Summers, shown in a 1981 photo, will head the National Economic Council.|
Key dates in Summers' career
1979 Named assistant professor at MIT, then later associate professor.
1982 Went to Washington as a domestic policy economist for the President's Council of Economic Advisers.
1983 Became a professor of economics at Harvard. Four years later, named Nathaniel Ropes Professor of Political Economy.
1991 Took leave from Harvard to return to Washington to become vice president of development economics and chief economist of the World Bank.
1993 Named undersecretary of the Treasury for international affairs under President Clinton.
1995 Promoted to deputy secretary of the Treasury, the agency's number two post.
1999 Confirmed as secretary of the Treasury.
2000 Served as a distinguished fellow in economics, globalization, and governance at the Brookings Institution in Washington.
July 1, 2001 Became the 27th president of Harvard University.
January 2005 Sparked an uproar at an academic conference when he suggested that innate differences between men and women might be one reason fewer women succeed in science and math careers.
Feb. 21, 2006 Facing a faculty revolt and eroding support from the university's governing board, announced his resignation, ending the briefest tenure at the Ivy League school's helm in 144 years. Left office in June.
October 2006 Joined the $25 billion hedge fund management firm D.E. Shaw & Co. as a part-time managing director. Also agreed to write a monthly column in the Financial Times of London.
Fall 2007 Became Charles W. Eliot University Professor at Harvard.
Nov. 24 President-elect Obama announced Summers as the next director of the National Economic Council.
SOURCES: Harvard University, news reports