John Snow

Secretary of the Treasury (2003-2006)

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President George W. Bush nominated John William Snow to be the 73rd Secretary of the Treasury on January 13, 2003. The United States Senate unanimously confirmed Snow to the position on January 30, 2003 and he was sworn into office on February 3, 2003. As Secretary of the Treasury, Snow worked closely with President Bush on a broad array of economy policy issues.

Prior to becoming Treasury Secretary, Snow was chairman and chief executive officer of CSX Corporation, where he successfully guided the multi-modal global transportation company through a period of tremendous change. During Snow’s 20 years at CSX, he led the corporation to refocus on its core railroad business, dramatically reduce injuries and train accidents and improve its financial performance.

Snow held several high-ranking positions in the Department of Transportation during the Ford Administration where he led the efforts to reform regulation of the motor carrier, airline, barge and rail industries.

From 1994 through 1996, Snow served as chairman of the Business Roundtable, the foremost business policy group comprised of 250 chief executive officers of the nation's largest companies. During that period, he played a major role in supporting passage of the North American Free Trade Agreement and working on the deficit reduction agreement.

Snow is widely recognized as a leading champion of improved corporate governance practices. He served as co-chairman of the influential Conference Board's Blue-Ribbon Commission on Public Trust and Private Enterprise, which made a number of recommendations to improve corporate governance. He also served as co-chairman of the National Commission on Financial Institution Reform, Recovery and Enforcement in 1992 that made recommendations following the savings and loan crisis.

Snow was born in Toledo, Ohio, and did undergraduate work at Kenyon College and the University of Toledo, from which he received a Bachelor of Arts degree in 1962. Both schools have honored him with honorary degrees. He also holds a master’s degree from the Johns Hopkins University and Doctor of Philosophy degree in Economics from the University of Virginia where he studied under two Nobel Prize winners. Snow graduated with a law degree from the George Washington University in 1967 and was on the economics faculty at the University of Maryland and the University of Virginia.  He also taught on the law faculty at George Washington.  He served as a visiting fellow at the American Enterprise Institute in 1977 and a distinguished fellow at the Yale School of Management from 1978 until 1980.  His interest in education includes service on the School Board of the City of Richmond from 1983 to 1985.

Before joining the administration, Snow served on various corporate and non-profit boards including the American Enterprise Institute and Johns Hopkins University. He is currently chairman of Cerberus Capital Management, L.P.