Former Oakland Mayor Libby Schaaf introduced this weekend she is going to hand over her bid for state treasurer and endorse Lt. Gov. Eleni Kounalakis for the job after the latter not too long ago dropped out of the governor’s race.
Schaaf introduced in a web-based submit Friday that “after conferring with my closest supporters,” she had determined to drop out of the 2026 race and Kounalakis her approval. Kounalakis additionally introduced Friday she would drop out of the governor’s race and as an alternative run for treasurer.
Schaaf first introduced her marketing campaign in March final yr.
“It has been a privilege to share my vision for using the Treasurer’s financing powers to tackle our urgent housing and climate crises, and the potential for the Treasurer’s early wealth-building programs to provide every Californian child with an opportunity-rich future,” Schaaf wrote. “I believe Lieutenant Governor Kounalakis shares this vision.”
Kounalakis was the primary Greek American and first girl elected to be the state’s lieutenant governor.
Schaaf added: “I’m grateful to the volunteers and supporters who fueled our grassroots campaign and inspired me every day. I look forward to continuing the work.”
California Sen. Anna Cabellero, a Merced Democrat, can be working for treasurer.
Initially Revealed: August 9, 2025 at 3:02 PM PDT
