(1) In the selection and appointment of the secretary, the board shall set the qualifications for the position of the secretary, employ a national search firm and conduct a nationwide search for candidates, and select from that list three (3) candidates for secretary of the Cabinet for Economic Development. The names of the three (3) candidates shall be submitted to the Governor who shall choose one of them as secretary, except that, if the Governor so chooses, he may reject the first list of names and direct the board to submit a list of three (3) additional names, from which he shall appoint the secretary. Once appointed, the secretary shall serve at the pleasure of the board.
(2) The secretary shall be a person with significant experience and established reputation as an economic development professional.