Romney served one term and did not seek re-election in 2006; his term ended January 4, 2007. Romney is a candidate for the Republican presidential nomination in 2008, formally announcing his candidacy on February 13, 2007. Romney made his announcement at the Henry Ford Museum in Dearborn, Michigan.
In 1994, Romney led an unsuccessful Senate campaign against incumbent Democratic Senator Ted Kennedy. He also served as the CEO and organizer of the 2002 Winter Olympics in Salt Lake City, Utah.