WASHINGTON (CNN) -- President Bush on Tuesday praised Mike McConnell as someone who possesses a "unique understanding of the threats we face" during a ceremonial swearing-in of McConnell as the nation's new director of national intelligence.

McConnell, 63, a retired vice admiral in the U.S. Navy, formally took the oath of office last Tuesday after his nomination was approved by the Senate. White House Chief of Staff Josh Bolten read McConnell the oath of office during Tuesday's ceremony at Bolling Air Force Base in Washington, D.C., as Bush looked on.

The former NSA director has "the respect of the intelligence community and a reputation in Washington for personal integrity and effective leadership," Bush said. "In short, you're going to like working with him and so am I."

McConnell thanked the president and his colleagues, and expressed his "excitement" at the chance "to further reform and integrate America's intelligence community."