Mitt Romney Steps Down From Marriott Board (Marriott Hotel and Timeshare)

For the second time, former Massachusetts Governor Mitt Romney has stepped down from his position on Marriott International’s (Marriott Hotel and Marriott timeshare) board of directors. Before running for governor in 2002, Romney served as a director (1993-2002) but resigned to begin his political campaign. After his failed bid for the Presidential nomination in 2008, he rejoined the board in January 2009.

The announcement was made last week, and became effective immediately. Romney’s seat on the board will not be replaced, with the board voting to reduce its membership from 11 directors to 10.

In an unrelated move, Marriott’s current vice chairman, William J. Shaw, has also announced his resignation from the Marriott board. Shaw’s resignation will be in effect following the board’s February 11 meeting. Shaw is scheduled to retire from Marriott on March 31. His position on the board will be filled by Marriott’s president and COO, Arne M. Sorenson.

Marriott CEO JW Marriott, Jr. expressed his gratitude for Romney and Shaw’s service to the board but says, “I am delighted that Arne Sorenson will join our board. As demonstrated for the past 14 years, including the last year and a half as president and chief operating officer of the company, Arne brings keen intelligence and judgment as well as deep financial and operations expertise to this new role, and I look forward to his counsel and insights as our company continues its global growth.”