Bain 1999 Press Release Heralded Romney’s “Part-Time Leave Of Absence”
Bain Capital wanted its clients to know that Mitt Romney wasn’t leaving the company when he went to the Olympics, as Romney now claims was the case.
The press release, which was obtained through a simple Nexis search…appears to contradict claims by both Romney and Bain that he had no involvement in the company’s day-to-day operations after February 11, 1999.
In his most recent financial disclosure form, Romney said he had retired from the firm in February of 1999. “Since February 11, 1999,” the document states, “Mr. Romney has not had any active role with any Bain Capital entity and has not been involved in the operations of any Bain Capital entity in any way.”
According to this press release, however, Romney was the firm’s part-time CEO at least through July of 1999, contradicting the Romney campaign’s claim that SEC filings listing him as the firm’s CEO and sole owner were simply a “quirk in the law.”
And a former executive, Mark B. Wolpow, says:
“I reported directly to Mitt Romney . . . You can’t be CEO of Bain Capital and say, `I really don’t know what my guys were doing,’” Mr. Wolpow said of Mr. Romney role at the company during his leave.