"There were three key attributes," Snyder said, in searching for in the EFM candidate. "We were able to find an outstanding individual," the governor continued. "And that's Kevyn Orr."
Orr is a high-powered D.C. attorney who helped steer Chrysler through their 2009 bankruptcy. He attended undergrad and law school at the University of Michigan.
Orr said he will officially resign from his D.C. firm on Friday.
"As Detroit's motto says; 'We can rise from the ashes,'" said Orr. He continued to say he believes it is possible "to restore this city to a sustainable rate of growth."
Despite his positive attitude, Orr said he recognizes the size and of the task at hand and the challenges that accompany it, "This is the Olympics of restructuring." "In my business you're sort of the undertaker that walks up to the front door. You're rarely welcomed."
Orr's nomination comes two days after Detroit City Council appealed Governor Snyder's state takeover. Council proposed a revised consent agreement that prevented a state takeover in 2012.