As speculation grows over who's running for the Republican nomination for the 2024 presidential contest, we can now rule out at least one heavy-hitter. 

According to the Washington Examiner, former Secretary of State Mike Pompeo formally announced that he will not be partaking this time around.

Pompeo revealed the news during a recent interview with Fox News host Bret Baier.

The former secretary of state said that he doesn't feel it's the right time to make the run. At 59, he'll have several more election cycles to get in on the action.

His statement

In a later statement released via Twitter, Pompeo explained exactly why he's bowing out of the 2024 action.

"Susan and I have concluded, after much consideration and prayer, that I will not present myself as a candidate to become President of the United States in the 2024 election," Pompeo wrote, attaching a full statement.

Susan and I have concluded, after much consideration and prayer, that I will not present myself as a candidate to become President of the United States in the 2024 election. pic.twitter.com/hxujBzGgkI

— Mike Pompeo (@mikepompeo) April 14, 2023

He added: "I’ve been blessed to have the opportunity to advance America in a way that fit the time and the moment. This is not that time or that moment for me to seek elected office again."

Pompeo also noted that he's leaving open the door for a future run, saying he won't rule out that possibility.

It's probably a wise decision, as he wouldn't have polled anywhere near Florida Gov. Ron DeSantis (R), let alone former President Donald Trump, his former boss.

Pompeo's background

If he can gather the support for future runs, Pompeo certainly has the proverbial street credit on his resume to make a run for the highest office.

Pompeo had a distinguished career in both the private and public sectors. He graduated first in his class from the United States Military Academy at West Point in 1986 and subsequently served as an officer in the U.S. Army, ultimately rising to the rank of captain.

After completing his military service, Pompeo earned a law degree from Harvard Law School in 1994, where he was an editor of the prestigious Harvard Law Review. Following his legal education, he embarked on a career as an attorney before transitioning to the business world, where he co-founded Thayer Aerospace and later served as the president of Sentry International, an oilfield equipment manufacturer.

Of course, he eventually served in Congress, eventually became the Director of the Central Intelligence Agency (CIA), and was ultimately selected as a member of Trump's Cabinet.