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Gov. Romney On When He Left Bain Capital (July 13, 2012)

Author: Governor Mitt Romney

Excerpt from interview with CBS:

The documents show that there's a difference between ownership, which is I owned shares in Bain, but I did not manage Bain. I left as everyone knows to go out and run the Olympics in February of 1999. I was full-time running the Olympics. I had no role whatsoever in the management of Bain after I went off to the Olympics. And that's been demonstrated by people who work at Bain, by all of the documents, but I still retained an ownership interest, I had the capacity if I were not on leave, if I were actually wanting to run the business to do so, but I did not. I left. And that's been demonstrated time and time again....

Actually when you leave an enterprise, when you have other people who are managing the enterprise, who take responsibility for all the investment decisions, who decide who's going to get hired and fired, who decide compensation decisions, they're the managers, they're the people running the business. I left the business and went off to run the Olympics, did that full time and after three years, when the Olympics were over, we arranged my departure officially from a retirement standpoint.

http://www.cbsnews.com/8301-250_162-57472298/romney-interview-with-cbs-news-full-transcript/

DMU Timestamp: June 22, 2012 12:37





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