Mitt Romney has rejoined the board of directors for Marriott International after taking almost a year off to make a bid for the U.S. presidency. Romney has been on the board two other times in the past.
Marriott International, Inc. (NYSE:MAR) has issued a statement saying that Mitt Romney is now back on its board of directors starting today. Among Romney’s business achievements are the co-founding of Bain Capital, an investment firm, and the organization of the 2002 Olympic Games.
Gov. Romney issued a statement on the report, saying, “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, Inc. (NYSE:MAR) the renowned success that it is.”
Romney has served on the company’s board twice in the past. After originally joining in 1993, he left the board in 2002 to run in the governor’s race in Massachusetts. Then he rejoined it in Jan. 2009 before leaving again two years later when he embarked on his bid for the U.S. presidency in 2011.
Marriott International, Inc. (NYSE:MAR) executive chairman J.W. Marriott, Jr. and company chief executive officer Arne Sorenson both said they were pleased to welcome Gov. Romney back to the board. “We will benefit from his tremendous energy and capability to guide long-term success in an increasingly complex business environment,” Marriot said.
Marriott International owns more than 3,700 properties in 74 countries. For the company’s fiscal year 2011, it reported over $12 billion in revenue. Eighteen prominent brands fall under the Marriott International umbrella.
Trades were mostly flat on shares of Marriott International Monday afternoon. The stock peaked in September of this year at almost $42 per share, although currently it’s trading closer to $36 per share. The stock is up from $29 per share in Dec. 2011.