Herman and Gloria Cain
Herman Cain has officially withdrawn from the 2012 presidential race, citing the "hurt" to his family and the "distractions" of the media for his faltering campaign. Wife Gloria was by his side. Examiner/Creative Commons

Businessman Herman Cain quit his campaign today for the 2012 presidency, in the wake of an accusation that he had a 13-year extramarital affair with a woman.

Weeks before, Cain was accused by several women of sexual harassment in his career as a businessman. After a meeting with his wife this weekend, Cain announced Saturday that he is suspending his bid for the GOP presidential nomination.

As of today, with a lot of prayer and soul searching, I am suspending my presidential campaign, said Cain, appearing before media and supporters outside his campaign headquarters Saturday in Atlanta. I am suspending my presidential campaign because of the continued distraction, the continued hurt caused on me and my family. Not because we are not fighters.

Cain said he will focus his attention on plan B -- a new policy-centric Web site named TheCainSolutions.com. Cain said he will endorse another Republican candidate in the future, but wasn't ready to do so yet.

I am not going to be silenced, and I am not going away, he said.

Allegations of sexual harassment and the extramarital affair hurt Cain in polls recently. He had surged to the top of many GOP presidential race polls after winning the Florida Straw Poll in a surprising victory. But in recent weeks his numbers had been dropping. A recent Iowa poll showed that Cain had fallen 15 points since October. At one time, he was running close to Republican front-runner Mitt Romney. But in the latest poll, the Des Moines Register poll has Cain registering only 8 percent of support in Iowa.

As false accusations about me continue, they have sidetracked and distracted my ability to present solutions to the American people, Cain said today. As of today, with a lot of prayer and soul searching, I am suspending my presidential campaign.

Cain said he will remain involved in the presidential race and continue to be a voice for the people with policy insight and suggestions.