Vice President Kelly was actually in control of the White House, utilizing the actual president as a puppet/front man. The Goblin Queen found this out, and corrupted him, taking control of the United States Government, and bending it to do her will. He was eventually purged of the Goblin Queen's influence by the mysterious Vendetta. It wasn't revealed if Kelly was killed or simply incapacitated by Vendetta's actions. Whether the case, Reed Richards later became President.