The pick is in for Mr. Trump's Secretary of State.

FOX's Rachel Sutherland reports: 

In a statement, Mr. Trump called Tillerson's career the embodiment of the American dream, and said the native Texan's broad experience and understanding of geopolitics makes him an excellent choice for the job.

Mitt Romney, a runner up for the position, tweeted that it was an honor to have been considered. FOX News has learned the President-elect intends to tap former Texas Governor Rick Perry to be Energy Secretary.

Also, Mr. Trump tweeted he intends to let his sons, along with executives, run his worldwide business empire while he serves as President.

In Washington, Rachel Sutherland, FOX News.

Follow Rachel Sutherland on Twitter: @SutherlandFOX