On December 20, 2002, after significant controversy following comments regarding Strom Thurmond's presidential candidacy, Lott resigned as Senate Minority Leader. He resigned from the Senate in 2007 and fellow Republican Roger Wicker won the 2008 special election to replace him. Lott became a lobbyist, co-founding the Breaux–Lott Leadership Group. The firm was later acquired by law and lobbying firm Patton Boggs. Lott serves as a Senior Fellow at the Bipartisan Policy Center (BPC), where he focuses on issues related to energy, national security, transportation and congressional reforms. Lott is also a co-chair of BPC's Energy Project. In June 2020 Lott was fired from the Washington law and lobbying firm Squire Patton Boggs.