Mitt Romney Returns to Marriott Board of Directors December 12, 2012Posted by Bryan Connelly in : Customer Comments, General, Information, Marriott Timeshares, New Features, News & Events, Timeshare Rental, Timeshare Resale, Timeshare Resource, Travel, Uncategorized , trackback
Good news for Marriott International Inc. as the former presidential nominee Mitt Romney has returned to the company’s board of directors. Willard Mitt Romney, named after the company’s founder John Willard Marriott, has served on the board from 1993 to 2002 before leaving to serve as Governor of Massachusetts.
Romney is rejoining Marriott for a second time after an unsuccessful presidential campaign in 2008. He served on the board from January 2009 to January 2011, when he stepped down to launch his most recent presidential campaign.
Mitt Romney Rejoins Marriott International
“We will benefit from his tremendous energy and capability to guide long-term success in an increasingly complex business environment” says Marriott’s executive chairman J.W. Marriott Jr. “We look forward to working closely with him again as a member of our strong, talented and diverse board.”
The Romney and Marriott families have been close for generations. The hotel chain’s executives have made significant contributions to Mitt Romney’s presidential campaigns. His return is good news for Marriott as Romney has a long track record of reviving companies with extreme deficits.
Success at Bain & Company
Bain & Company, a global management consulting firm, was experiencing financial distress until Romney returned as the company’s CEO during 1991.
Romney was able to manage negotiations and to refocus stock-ownership plans, real-estate holdings and bank loans. His leadership has helped Bain & Co. turn around companies such as, Burger King, Domino’s, Home Depot, Sealy, and Warner Music Group.
CEO of 2002 Olympic Games
In 2002 Romney became president and CEO of the Olympic Games, based in Salt Lake City. As the Olympics were struggling with security issues and a $379 million deficit, it was Romney who helped eliminate that debt. He brought in new sponsors, increased revenue up to $1.32 billion, and organized over 23,000 volunteers. During the Olympic Games, Romney was instrumental in launching an impressive security effort in the wake of the Sept. 11, 2001, terrorist attacks.
Governor of Massachusetts
When Romney was elected governor of Massachusetts, the state was facing a $3 billion deficit and increasing unemployment. Romney’s supporters say that he was able to balance the state’s budget without borrowing money or raising taxes. By the time Romney stepped down in 2007, Massachusetts had a surplus with a $2 billion “rainy day fund” and a reduction in unemployment and sustained economic growth.
Mitt Romney’s Return to Marriott
As his third stint with Marriott’s Board of Directors, Romney said in a statement that “it is an honor to once again be able to serve in the company of leaders like Bill Marriott and Arne Sorenson and to support the work of the tens of thousands of Marriott associates who make Marriott International the renowned success that it is.”
Leave a comment below and tell us your thoughts. What affect do you think Mitt Romney’s return will have on Marriott?