Former CEO Joins Crowded Race To Replace Gov. Ralph Northam

A former co-CEO of a private equity firm announced he will run in the crowded race for Democrat Virginia Gov. Ralph Northam’s seat, The Washington Post reported Wednesday.

Glenn Youngkin, who was co-CEO and board member of The Carlyle Group from 1995 until September, said in a video announcing his candidacy that as a political newcomer with business experience he was best suited to restore the economy in Virginia.

“I’m not a politician. I’ve spent the last 30 years building business and creating jobs, leading a team of nearly 2,000 people who trusted me to get things done,” Youngkin, who will run as a Republican, said in the video.

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“Virginia is being tested. But what we need isn’t another politician, or worse, the same politician. It’s going to take a conservative to stand up to bring a new day to Virginia,” Youngkin said in the video.

Youngkin said “an outsider” will be needed to usher new changes into the state.

Youngkin spoke about the hardships he faced growing up in Richmond and described how hard work led to his success. The people of Virginia will head the charge to bring back the economy, not the government, Youngkin said.

The state’s Republican Party is anticipated to choose a nominee for governor in a convention rather than a primary, The Hill reported.

Northam is ineligible to run for re-election under Virginia law, which prohibits governors to be in office for two terms in a row, The Hill reported. Other Republican contenders eyeing the seat are Peter Snyder, a businessman, state Sen. Amanda Chase, Del. Kirk Cox of Colonial Heights and Sergio de la Peña, a retired Army colonel, according to The Post.

Democratic contenders looking to win Northam‘s seat are Del. Lee J. Carter of Manassas, a former state House speaker, former Democratic Virginia Gov. Terry McAuliffe, Democratic Lt. Gov. Justin Fairfax, state Sen. Jennifer L. McClellan of Richmond and former delegate Jennifer D. Carroll Foy of Prince William, The Post reported.

McAuliffe gathered almost $6.2 million in fundraising in 2020, more than any candidate in either party has raised, The Hill reported. The former governor won in 2013 by 2.5 percentage points while Northam won five years later by almost nine points.

Youngkin’s campaign didn’t immediately respond to a request for comment.