Governor Romney has been an effective leader in both the business and public service worlds.
Elected in 2002, Governor Romney has presided over a dramatic reversal of state fortunes and a period of sustained economic expansion. Without raising taxes or increasing debt, Governor Romney has balanced the budget every year of his administration, closing a $3 billion budget deficit his first year in office. By eliminating waste, streamlining the government, and enacting comprehensive economic reforms to help spur growth in Massachusetts, Romney helped the state achieve a surplus that currently totals nearly $1 billion.
At the beginning of Governor Romney’s term, Massachusetts was losing thousands of jobs every month and businesses were closing their doors. Today, the unemployment rate is averaging more than a full percentage point lower, hundreds of companies have expanded or moved to Massachusetts, and the state has added more than 37,000 jobs in just the last two years.
One of Governor Romney’s top priorities is reforming the education system so that today’s children are prepared to compete for good paying jobs in the global economy of the future. In 2004, Governor Romney established the John and Abigail Adams Scholarship Program to reward the top 25 percent of Massachusetts high school students with a four-year, tuition-free scholarship to Massachusetts’ state university or colleges. He has also drafted a wide-ranging package of education reforms, including the recruitment of 1,000 skilled math and science instructors, bonuses of as much as $15,000 a year for top-performing teachers, and important new intervention programs for failing schools.
Governor Romney was elected to the Chairmanship of the Republican Governor’s Association by his fellow Governors for the 2006 election cycle.
Governor Romney first attained national recognition for his role in turning around the 2002 Winter Olympics. With the 2002 Winter Olympics mired in controversy and facing serious financial crisis, Governor Romney was asked to become President and CEO of the Salt Lake Organizing Committee. Although the challenge seemed daunting, he was compelled to assume the task by both the urgings of his wife, Ann, and by the memory of his father, George Romney, who had been a successful businessman, three-term Michigan Governor and tireless advocate of volunteerism, leaving behind a successful career as an entrepreneur.
In his three years at the helm in Salt Lake, Romney erased a $379 million operating deficit, organized 23,000 volunteers, galvanized community spirit, and oversaw an unprecedented security mobilization just months after the September 11th attacks, leading to one of the most successful Olympics in our country’s history.
Prior to his Olympic service, Romney enjoyed a noted career helping businesses grow and improve their operations. From 1978 to 1984, Mr. Romney was a Vice President at Bain & Company, Inc., a leading management consulting firm. Following a period of decline after Romney’s departure, he returned as CEO several years later and engineered a complete recovery. Today, Bain & Company employs more than 2,000 people in 25 offices worldwide.
In 1984, Mr. Romney founded Bain Capital, one of the nation’s most successful venture capital and investment companies. Bain Capital founded, acquired or invested in hundreds of companies including Staples, Bright Horizons Family Solutions, Domino’s, Sealy, Brookstone, and The Sports Authority.
Governor Romney has been deeply involved in community and civic affairs, serving extensively in his church and numerous charities including City Year, the Boy Scouts, and the Points of Light Foundation. In 1994, Governor Romney was the Massachusetts Republican nominee for United States Senate.
Governor Romney received his BA with Highest Honors from Brigham Young University in 1971. In 1975, he was awarded and MBA from Harvard Business School and was named a Baker Scholar. In 1975, he also received his Juris Doctorate, cum laude, from Harvard Law School.
Governor Romney, 59, and his wife, Ann, have been married for 37 years. They have five sons (Tagg, Matt, Josh, Ben, and Craig), five daughters-in-law (Jen, Laurie, Jen, Mary, and Andelyne) and ten grandchildren.
