Statement by Gregg withdrawing as Commerce Secretary

(Reuters) - Following are extracts from a statement issued by Republican Senator Judd Gregg announcing he was withdrawing his name as President Barack Obama's nominee for Commerce Secretary:

"I want to thank the President for nominating me to serve in his Cabinet as Secretary of Commerce. This was a great honor, and I had felt that I could bring some views and ideas that would assist him in governing during this difficult time. I especially admire his willingness to reach across the aisle.

"However, it has become apparent during this process that this will not work for me as I have found that on issues such as the stimulus package and the Census there are irresolvable conflicts for me. Prior to accepting this post, we had discussed these and other potential differences, but unfortunately we did not adequately focus on these concerns. We are functioning from a different set of views on many critical items of policy.

"Obviously the President requires a team that is fully supportive of all his initiatives.

"I greatly admire President Obama and know our country will benefit from his leadership, but at this time I must withdraw my name from consideration for this position.

"As we move forward, I expect there will be many issues and initiatives where I can and will work to assure the success of the President's proposals. This will certainly be a goal of mine ..."

"As a further matter of clarification, nothing about the vetting process played any role in this decision. I will continue to represent the people of New Hampshire in the United States Senate."

(Editing by David Storey)