Marriott International, Inc. (NYSE:MAR) announced today that W. Mitt Romney, President of the Salt Lake Olympics Organizing Committee, has stepped down from Marriott’s board of directors in order to focus on his campaign for the governorship of Massachusetts.
J.W. Marriott, Jr., chairman and chief executive officer of Marriott International, said, “Mitt Romney informed me that his political plans require him to resign from our board. We will miss him. From his first days on our Board nine years ago, Mitt has been an extraordinarily effective director and visionary leader. He brought to our Board incisive analysis, unerring judgment, and a tremendous dedication to help our company become the world’s hospitality leader.”
“Mitt has been an active, hands-on Director, an approach that clearly has served him well in other endeavors. His stewardship while on our board contributed to our strong growth over the past nine years. We certainly look forward to his continued friendship, and we are very grateful for his service to our company,” Mr. Marriott said.
Mr. Romney became President of the Salt Lake Organizing Committee in February 1999 and led the recently completed 2002 Winter Olympic Games to unprecedented success and wide acclaim. Previously, he was director, president and chief executive officer of Bain Capital, Inc., a private equity investing firm. Mr. Romney served on the Audit and Compensation Policy Committees of the Marriott board.