LOS ANGELES -- Arnold Schwarzenegger announced yesterday that former U.S. Secretary of State George P. Shultz will co-chair an Economic Recovery Council for his gubernatorial campaign.

It was the second major announcement in two days for the actor. On Wednesday, the campaign said billionaire investor Warren Buffett would be a financial adviser.

Buffett and Shultz will be joint co-chairs of the economic council. The appointments of Buffett, a Democrat, and Republican Shultz reflect the campaign's attempt to assemble a diverse and bipartisan team.

The campaign will soon have an economic summit, Schwarzenegger told reporters in brief remarks on his way into a San Fernando Valley middle school, where he attended a commencement ceremony for an after-school program he is involved with.

Shultz is a fellow at the Hoover Institution at Stanford University.

He was secretary of state from 1982 to 1989 in the first Bush administration and previously served on President Reagan's Economic Policy Advisory Board.

During the Nixon-Ford presidencies, he was Treasury secretary from 1972 until 1974 and secretary of labor from 1969 until 1970.