Willard Mitt Romney is the son of a former governor of Michigan, George Romney, who followed in his father’s political footsteps by becoming governor of Massachusetts (2003–2007). He’s been successful in business, serving as CEO of a management consulting company and co-founding a private equity investment firm. He ran for Massachusetts U.S. Senate in 1994, losing to Ted Kennedy, and later ran for the 2008 Republican presidential nomination. Dogged by accusations of “flip-flopping” on major issues, he lost the nomination to senator John McCain. He announced his bid for the 2012 Republican presidential nomination in June of 2011, emerging as an early frontrunner.