Gov. Ed Rendell on Tuesday chose a retired manufacturing executive who chaired the Federal Reserve Bank of Philadelphia to oversee how Pennsylvania spends $10 billion in federal economic stimulus money.

Ronald Naples, 63, the retired CEO of Quaker Chemical Co. in Conshohocken, will be paid $120,000 as chief accountability officer to ensure the money is spent wisely and that people can see how it is spent. The money will be distributed among state and local agencies.

Naples will chair the Governor's Working Group for Stimulus Accountability and be a member of the Pennsylvania Stimulus Oversight Commission, composed of lawmakers, congressional appointees, businesspeople and labor representatives. State Rep. Brian Ellis, a Butler Republican, is among lawmakers on the commission.