Confirmation hearing set for Navy secretary nominee

Richard Spencer, President Trump's nominee to become the next Navy secretary, is scheduled to appear before the Senate Armed Services Committee next Thursday.

Spencer, a former Marine Corps captain, most recently served as managing partner for investment company Fall Creek Management and has also served as chief financial officer for Intercontinental Exchange and president of Crossroads Group.

Trump initially selected Philip Bilden to serve as Navy secretary. Bilden withdrew in late February, however, citing difficulties with divesting his financial interests.