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Samuel W. Bodman is the Deputy Secretary of the Department of
Commerce. A financier and executive by trade, he is well suited
to his role of managing the day-to-day operations of the cabinet
agency with 40,000 employees and a $5 billion budget. An engineer
by training, he is well qualified for his specific oversight focus
on the National Oceanic and Atmospheric Administration, the Patent
and Trademark Office, and the National Institute of Standards
and Technology.
With 31 years' experience in the private sector, Deputy Secretary
Bodman is a firm believer in the American free enterprise system.
His work in the finance industry began when he was professor at
the Massachusetts Institute of Technology (M.I.T.) and started
consulting with the venture capital sector. He and his partners
and associates provided financial and managerial support to scores
of new business enterprises located throughout the United States.
Virtually all of these companies had strong dependence on technology
and innovation. Many of these achieved great financial success
and established public markets for their securities.
Born in 1938 in Chicago, he graduated in 1961 with a B.S. in
chemical engineering from Cornell University. In 1965, he completed
his ScD at Massachusetts Institute of Technology. For the next
six years he served as an Associate Professor of Chemical Engineering
at MIT and as Technical Director of the American Research and
Development Corporation, a pioneer venture capital firm.
From there, Deputy Secretary Bodman went to Fidelity Venture
Associates, a division of the Fidelity Investments. In 1983 he
was named President and Chief Operating Officer of Fidelity Investments
and a Director of the Fidelity Group of Mutual Funds. In 1988,
he joined Cabot Corporation, a Boston-based Fortune 300 company
with global business activities in specialty chemicals and materials,
where he served as Chairman, CEO, and a Director. Over the years,
he has been a Director of many other publicly owned corporations.
Deputy Secretary Bodman has also been active in public service.
He is a former Director of M.I.T.'s School of Engineering Practice
and a former member of the M.I.T. Commission on Education. He
also served as a member of the Executive and Investment Committees
at M.I.T., a member of the American Academy of Arts & Sciences,
and a Trustee of the Isabella Stewart Gardner Museum and the New
England Aquarium.
Deputy Secretary Bodman is married to M. Diane Bodman. He has
three children, two stepchildren, and seven grandchildren. He
and his wife reside in Washington, D.C.
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