Local 4 has learned that Kevin Clinton, the head of Michigan's Department of Insurance and Financial Services, will be named the new state treasurer.
Gov. Rick Snyder is holding a 1 p.m. press conference.
Clinton has been working under Snyder since 2011.
According to his biography on the state's website, before Clinton served for nearly five years as president and CEO of MEEMIC Insurance Company in Auburn Hills. He holds Bachelors of Business Administration and Masters of Actuarial Science degrees from the University of Michigan.
Clinton is taking the reigns after former Treasurer Andy Dillon announced his resignation on Friday, citing acrimony associated with his recent divorce that drew media attention.
Michigan treasurer steps down, cites divorce acrimony
Dillon, 51, said his family deserves privacy and residents deserve to know the state treasurer is "not distracted by such issues and events."
Dillon, a Democrat and former state House speaker, was named treasurer by Republican Gov. Rick Snyder in 2011. He said he would stay in the post for an unspecified length of time to assist with the transition to his successor.
"I have always considered it a privilege and honor to work on behalf of all Michigan residents and will look back fondly on my years of service in Lansing," said Dillon, who was heavily involved in efforts to turn around deficit-ridden cities and school districts.
Just Thursday, he was deposed by union lawyers opposing Detroit's bankruptcy filing, the largest in U.S. history.
Dillon has been the subject of unflattering news stories about disputes with his ex-wife, Carol. She accused him of being drunk and assaultive at her home in July. He denied it, and the Wayne County prosecutor's office said there was insufficient evidence to file charges.
A judge last summer barred the Dillons from having contact for a year unless it involves a minor child.
Andy Dillon also has had trouble with alcohol and entered a rehab program in January, friend and public-relations specialist Kelly Rossman-McKinney told reporters in August.