Bain verduidelijkt relatie met Mitt Romney via email

24 januari 2012
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Bain & Company heeft een e-mailbericht gestuurd naar studenten van een Amerikaanse universiteit om hen uit te leggen dat Bain & Company een ander bedrijf is dan Bain Capital. In de e-mail van het internationale strategieadviesbureau wordt gesuggereerd dat de presidentiële campagne van zijn alumnus Mitt Romney tot kopzorgen leidt bij het bedrijf. Dat blijkt vooral uit de pogingen om zichzelf te onderscheiden van Bain Capital, het private equitybedrijf dat Romney mede oprichtte.

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Beide bedrijven stonden de afgelopen maanden onder massale aandacht in de Verenigde Staten, omdat Mitt Romney, een van de favoriete kandidaten voor de Republikeinen, voor beide firma's heeft gewerkt. Vooral Bain Capital kreeg slechte publiciteit in de laatste paar weken. Dagelijks refereren journalisten naar Romney's activiteiten voor beide bedrijven, maar outsiders beschouwen beide organisaties vaak als dezelfde entiteit. De e-mail, gestuurd door Graham Rose (partner in Boston) naar nieuwe studenten aan de Wharton School of Business, legt uit dat het de andere Bain (Bain Capital) is die Romney mede oprichtte en waar hij zijn miljoenen verdiende. In andere woorden: laat het duidelijk zijn dat Bain & Company niet het bedrijf is dat andere bedrijven overnam en mensen ontsloeg. bemachtigde een kopie van de e-mail. Zie hieronder voor de volledige e-mail.

Dear Wharton Bainies,

As you are probably aware, one of our alums, Mitt Romney, is running for the Republican nomination for President of the United States. We are very proud to see our alumni fulfill their aspirations and contribute to global business and government affairs.

With Mitt's continued success in the US primaries, there has been much confusion in the media between Bain & Company and Bain Capital, both shortened to just 'Bain' in headlines, articles and social media, even though the two companies are completely separate entities with no sharing of governance or ownership. Here are some quick facts of our collective history:

  • Mitt worked at Bain & Company from 1977 to 1985, leaving the firm in 1985 as a vice president to help found Bain Capital.
  • He rejoined Bain & Company in the early 1990's to play a key role in our turnaround, leading the successful effort to restructure our debt and reorganize Bain into a full partnership that has fueled 20 years of phenomenal growth.
  • Mitt returned to Bain Capital in 1992 and worked there until 1999 when he went to work with the Salt Lake City Olympics.
  • While we are proud of Mitt, Bain & Company's policy and US campaign finance law prohibits us as a firm from providing his campaign with either funding or in kind service.

Frequently asked Q&A on Mitt Romney and Bain:

Q. What can I do to help Bain & Company on campus given the attention the firm is receiving around the Mitt Romney campaign?
A. Due to our shared name 'Bain' and despite our constant efforts to set the record straight on the differences between the two firms, there is understandable confusion between 'Bain & Company' and 'Bain Capital'. Both tend to be shortened simply to 'Bain' in conversation and in the media. It is helpful to explain that Bain & Company is the leading management consulting firm and Bain Capital is a private equity firm. They are different businesses, with no shared governance or ownership.

Q. What is our current connection to Mitt Romney?
A. Mitt Romney has no current relationship to Bain & Company, aside from being among its most prominent alumni. He worked at Bain & Company from 1977 to 1985 and again from 1990 to 1992, but has not worked for Bain & Co. since then.

Q. Are we contributing to his campaign?
A. Bain & Company, as a firm, has a policy that we do not contribute to any political candidates or causes. Of course some employees are personally supporting Mitt, however this is a personal matter and completely voluntary.

Q. Is the confusion between Bain & Company and Bain Capital causing any issues?
A. We have to explain more frequently the distinction between the firms. Our clients know who we are and what we do. They know that we develop practical insights for them to act on, and share a passion for their results. Our employees know and embody our values and commitment. They've voted us Consulting Magazine's Best Firm to Work For in the management consulting industry nine years in a row. Glassdoor just ranked us Best firm to work for in any industry, and Working Mother magazine named us to the list of 100 best companies for working mothers. Further, we will continue to monitor our brand and correct any inaccuracies.

Q. What is your opinion on whether Mitt Romney would do a good job as U.S. President?
A. Bain & Company employees and alumni can answer - and debate - that question individually as citizens and voters. Bain & Company as a firm respects the opinions of all its employees. The firm encourages the free exchange of ideas by definition. It's one of our strengths as a firm.

As always, we appreciate the role you play on campus as ambassadors of Bain and wanted to reach out to ensure you had talking points in case your classmates were asking questions.