Lake has long been considered a potential successor for CEO Jamie Dimon.
Sprint and T-Mobile have argued that the merger is necessary to compete with the two largest carriers in the U.S., AT&T and Verizon.
Earlier, The Washington Post reported that efforts to sell came after the hedge fund manager who controls American Media Inc. through his fund "became 'disgusted' with the Enquirer's reporting tactics."
Donald Tusk, president of the European Council, says this gives the U.K. more time to find the best possible solution.
The nomination would come amid intense scrutiny over the FAA's approval of the Boeing 737 Max 8 aircraft involved in two fatal crashes.
Transportation Secretary Elaine Chao on Tuesday sent a memo to Calvin Scovel, inspector general of the department, formalizing the request.
The Council of Economic Advisors says Trump's tax cuts led to millions receiving bonuses and cautions that progressive policies could harm economic growth.
Polk has served as president and CEO since 2011. He has also been a member of Newell's board since 2009.
Daniel Elwell said the FAA grounded the aircraft after receiving new actionable data.