Top business executives call on Biden to end reelection bid: ‘Pass the torch’

A group of top business leaders sent a letter to President Biden Friday urging him to end his reelection campaign in the wake of his poor debate performance last week.

As of Friday morning, the letter was signed by 186 people who said they were fearful about the future of the country.

“We believe that nothing short of American democracy is at stake this November, and we are at risk of a devastating loss,” the letter reads.

The group, which consists of top-level leaders at organizations across the country, are joining a growing list of people pressing the incumbent to step aside and give someone else a chance this fall.

After Biden’s poor debate performance against former President Trump last Thursday — where he lacked energy, had a raspy voice and seemed to lose his train of thought — there has been widespread panic among Democrats about not only the president’s ability to beat Trump in the polls this fall, but also his ability to execute the role of president for another four years.

Biden and his team have insisted he is not going to drop out.

In the letter, the group said it admires the president’s decades of service and noted his legacy will be known as one that rescued democracy from a large threat.

“To ensure that legacy is cemented, we ask that you pass the torch of leadership to the next generation of Democratic leaders by ending your reelection bid,” the letter said.

The group is made up of members of the Leadership Now Project and “like-minded business and civic leaders” who are committed to protecting democracy. The individuals have been vocal about the threat of Trump and the risks he poses if reelected, including “global and domestic instability, abandoning our allies, crony capitalism, political retribution, and further erosion of the rights of women and other groups,” the letter said.

“At this consequential moment for our nation, it is time to cement your legacy by passing the torch—just as George Washington did,” the group wrote. “We respectfully urge you to withdraw from being a candidate for the sake of democracy and the future of our nation.”

Julia Shapero contributed reporting.