A group of business leaders and philanthropists led by a former Obama administration official is calling on President Joe Biden to end his reelection bid "to protect democracy" following his disastrous debate performance last week against former President Donald Trump.
"The threat of a second Trump term is such that we must ask President Biden and the Democratic Party to pass the torch of this year's presidential nomination to the next generation of highly capable Democrats," said a statement from the Leadership Now Project. "This process will undoubtedly be messy and is not without risk. However, the stakes are too high not to act."
The Leadership Now Project's CEO and co-founder is Daniella Ballou-Aares, who spent five years in the Obama administration as senior adviser for development to the Secretary of State, serving under Hillary Clinton and John Kerry. The organization's leadership includes other former Obama administration officials, such as senior adviser Michelle Greene, who worked in the Treasury Department, and chief communications officer Elissa Doyle, who worked on Obama's transition team in 2009.
"The world is watching," the group wrote. "As we anxiously observe elections in multiple other democracies, our allies and other democracies hope to see us at our best and are deeply concerned when we fail to live up to these high expectations.
"We have heard from many individuals who share our deep concerns about the present course but fear speaking out. But speaking out is our duty in a democracy and the time to do it is now. We call on others to join us in making this urgent call."
The statement was unsigned, but The New York Times reported that Ballou-Aares said that it was supported by an overwhelming majority of the members of Leadership Now Project, which include Thomas W. Florsheim Jr., CEO of the footwear maker Weyco Group; Eddie Fishman, managing director of the investment firm D.E. Shaw & Company; John Pepper, former CEO of Procter & Gamble; and Paul Tagliabue, former commissioner of the NFL.
The statement comes amid reports that dozens of House Democrats might sign a letter calling on Biden to withdraw from the race. But Biden on Wednesday reportedly vowed to keep running for reelection, rejecting the growing pressure from within his party.