“I had hoped that Attorney General Cuccinelli and I would be able to form that same kind of united Republican ticket in 2013. However, late last year Mr. Cuccinelli unexpectedly announced that he intended to challenge me for the Republican Party's nomination for Governor.
“While I was surprised and disappointed by Mr. Cuccinelli's decision, I was confident in my ability to win our party's nomination for Governor in a statewide primary election, which was the method of nomination that had previously been adopted by the State Central Committee of the Republican Party of Virginia.
“However, in June of this year the newly constituted State Central Committee voted to change the manner in which we will nominate our candidates in 2013 from a statewide primary to a closed party convention. While I did not support that decision, it had a dramatic impact on the 2013 campaign.
“For the past several months my campaign team has worked hard to restructure our campaign to effectively compete in the convention process. While we have made a great deal of progress, I reluctantly concluded that the decision to change the method of nomination from a primary to a convention created too many obstacles for us to overcome.
“In addition, I know how divisive conventions can be, and I was concerned that a prolonged campaign between Mr. Cuccinelli and me could create deep divisions within our party. The convention process would have forced Republican activists to take sides against their friends in local committees all across our state. The wounds that can develop from that type of process are often difficult to heal.
“Conventions are by their very nature exclusive, and at a time when we need to be projecting a positive image and reaching out to involve more Virginians in the Republican Party, I am unwilling to be part of a process that could seriously damage our image and appeal.
“While it may have been in my self-interest to have continued the campaign and done my best to win without regard to the consequences of those actions, I have never chosen to place my self-interest ahead of our Party's best interest, and I will not do so now.
“I know that my decision will surprise most people and disappoint many people, but I'm confident it is the right decision. I hope that my friends and supporters, as well as those who have chosen to support Mr. Cuccinelli, will respect and appreciate the reasons for my decision.
“It has been a great honor to serve as Lieutenant Governor of Virginia for the past seven years, and I wouldn’t trade the experiences and opportunities we have had for anything in the world.
“I look forward to serving the remainder of my term as Lieutenant Governor and as Virginia's Chief Jobs Creation Officer, and working with Governor McDonnell and the rest of our great team to build a better Virginia.
“Jean Ann and I want to personally thank everyone who has done so much to support us over the years, and I especially want to thank the thousands of people who had already pledged their support to my campaign for Governor. Their support means more to us than words can express. My greatest regret in suspending my campaign is the thought that I have let them down.
“In the coming days Jean Ann and I will be evaluating our future political options. I love Virginia and I value public service a great deal. I assure you that I will continue to look for ways to make a contribution to the public life of our Commonwealth.
“I intend to remain actively involved in the 2013 campaigns – perhaps not as the Republican nominee for Governor, but as a more independent voice, making certain that the candidates keep their focus on the important issues facing our state and offer a positive and realistic vision for effectively and responsibly leading Virginia”