Richard V. Spencer
Richard V. Spencer | |
|---|---|
| Born | January 18, 1954 Waterbury, Connecticut, U.S. |
| Occupation(s) | Businessman, political figure |
| Years active | 1976–present |
| Known for | 76th United States Secretary of the Navy |
Richard Vaughn Spencer (born January 18, 1954) is an American businessman and political figure who held the position of the 76th United States Secretary of the Navy from August 3, 2017, until November 24, 2019. In addition to this role, he briefly took on the responsibilities of Acting United States Secretary of Defense between July 15 and 23, 2019, as well as Acting United States Deputy Secretary of Defense from July 24 to July 31, 2019. Spencer’s military background includes service as a Marine Aviator in the U.S. Marine Corps from 1976 through 1981. Prior to his government appointments, he was Vice Chairman and Chief Financial Officer at Intercontinental Exchange (IEX) from November 2001 until January 2008.
On November 24, 2019, Secretary of Defense Mark Esper requested Spencer’s resignation, citing concerns over his handling of the Eddie Gallagher case and a breach in adherence to the established chain of command.
As of July 2024, Spencer has taken over as chairman of Austal Ltd., succeeding John Rothwell.
Early life
Spencer was born in Waterbury, Connecticut, in 1954. He pursued higher education at Rollins College, where he majored in economics. Following graduation, he joined the U.S. Marine Corps and served as an aviator from 1976 to 1981. During his military tenure, he was assigned to Marine Medium Helicopter Squadron 161 (VMM-161), part of Marine Aircraft Group 16, and was known by the callsign "Chowder."
Career
After completing his military service as a captain, Spencer transitioned into financial services, dedicating fifteen years to the industry with positions at firms including Goldman Sachs, Bear Stearns, Donaldson, Lufkin & Jenrette, A. G. Becker, Paine Webber, and Merrill Lynch. Between 2009 and 2015, he contributed to the Defense Business Board and participated on the Chief of Naval Operations Executive Panel. During this period, he advocated for replacing domestic military commissaries with negotiated discounts at civilian retailers for military personnel.
In June 2017, President Donald Trump nominated Spencer for the role of the 76th United States Secretary of the Navy. The United States Senate confirmed his appointment on August 1, 2017, and he officially assumed office two days later, serving until November 24, 2019.
Spencer temporarily took on the role of acting Secretary of Defense starting July 15, 2019, while awaiting confirmation of a permanent appointee. Additionally, from July 24 until month-end, he fulfilled duties as acting Deputy Secretary of Defense.
In November 2019, it emerged that Spencer had privately suggested to White House officials that Navy SEAL Eddie Gallagher be permitted to retire retaining his Trident Pin if no intervention occurred in Gallagher’s ongoing military justice process. Gallagher had been convicted by court-martial for posing with a deceased individual but was acquitted on other serious charges including murder. Secretary Esper dismissed Spencer on November 24 due to his circumvention of normal command channels by appealing directly to White House authorities. Spencer maintained his public position but asserted that White House pressure influenced efforts to allow Gallagher’s retirement as a SEAL. Esper later confirmed that President Trump had directed Gallagher be authorized to retire with his Trident Pin.
In his resignation letter addressed to President Trump, Spencer underscored his dedication to maintaining order and discipline within the military and stated that he could not comply with an order he believed conflicted with his oath to uphold and defend the Constitution.
On November 27, 2019, The Washington Post published an opinion piece authored by Spencer criticizing President Trump’s involvement in the Gallagher matter as "shocking and unprecedented," further stating that Trump demonstrated limited comprehension of military service realities.
Later career
On February 7, 2020, Spencer publicly declared his support for Michael Bloomberg in the 2020 United States presidential election. He holds membership in both the Marine Corps Association and Foundation and the Marine Corps Aviation Association.