William Daley Resigns as Obama Chief of Staff

Unnamed sources have told various news outlets that White House Chief of Staff William Daley is resigning effective at the end of this month, to be replaced by Office of Management and Budget (OMB) Director Jacob Lew.

The nearly month-long changing of the guard allows Lew time to shape the administration's budget proposal and ends Daley's stint with the State of the Union address.

President Barack Obama plans to announce the move later Monday.

Daley reportedly handed in his letter of resignation last week, saying it was time to head back home to Chicago.

Daley was commerce secretary to the Clinton Administration and son of legendary Chicago Mayor Richard Daley.