Shultz in his official D.O.L. portrait.
George Pratt Shultz (born December 13, 1920) served as the U.S. Secretary of State from 1982 to 1989 and as the U.S. Secretary of the Treasury from 1972 to 1974 and United States Secretary of Labor from 1969 to 1970.
Shultz is a member of the Hoover Institution and the Committee for the Liberation of Iraq. He also serves on the board of directors for the Bechtel Corporation, Gilead Sciences, and Charles Schwab & Company.
Shultz received a B.A. degree in economics from Princeton University in 1942. and joined the U.S. Marine Corps and served until 1945. In 1949, Shultz earned a Ph.D. from the Massachusetts Institute of Technology degree in industrial economics.
He taught at MIT from 1948 to 1957, with a leave of absence in 1955 to serve on President Dwight Eisenhower's Council of Economic Advisers as a senior staff economist.
In 1957, Shultz joined the University of Chicago Graduate School of Business as professor of industrial relations. Later, he was named dean in 1962.
Shultz served as President Richard Nixon's secretary of labor from 1969 to 1970, after which he was director of the Office of Management and Budget. He then became secretary of the Treasury from May 1972 to May 1974.
In 1974, he left government service to become president and director of Bechtel Group. On July 16, 1982, he was appointed by President Ronald Reagan to serve as the sixtieth U.S. secretary of state. A dove on foreign policy, he frequently clashed with the more hawkish members of the Reagan administration. In paticular, he was well known for outspoken opposition to the "arms for hostages" scandal that would eventually become the Iran Contra situation. He left office on January 20, 1989.