Cain effectively ended his White House bid on Saturday under the weight of accusations of sexual harassment and marital infidelity.
He told supporters at an event in Atlanta that the charges hurled at him over the weeks are “false and unproved” but said they have taken a toll on him and his wife, Gloria, who appeared with him on stage.
The son of a cleaning leady and a chauffeur â?? Cain’s father used to drive the CEO of Coca Cola â?? he grew up in Atlanta, studied ballistic mathematics and entered the catering business with spectacular success.
Cain’s departure shapes the Republican race more clearly as a matchup between former Massachusetts Governor Mitt Romney and surging rival Newt Gingrich.
“I am suspending my campaign because of the continued distraction, the continued hurt,” said the 65-year-old. He said he would endorse a Republican rival.
All evidence pointed to a campaign facing severe financial woes and credibility problems even if Cain had decided to stay in.
After jumping into the front-runner position two months ago, Cain has been in a free fall in the past month and his support in Iowa, which holds the first US nominating contest on 3 January stands at 8 per cent.
Cain spoke of having made mistakes but did not elaborate. His campaign has also suffered from several stumbles that included a long pause when he tried to answer a routine question about Libya.
“I’ve made mistakes professionally, personally, as a candidate, in terms of how I run my campaign. And I take responsibility for the mistakes that I’ve made. And I’ve been the very first to own up to any mistakes I’ve made,” Cain said.