Former Tempe Mayor Hugh Hallman says he's withdrawing from the 2014 governor's race and will instead run for state treasurer.
Hallman made the announcement Thursday on his website.
He entered the governor's race in January and was one of several candidates who filed to run on the Republican side.
Hallman says "after a great deal of consideration," he will be running for an office that utilizes his background as a former mayor, an economist, an attorney and an educator.
He says the state treasurer "can have an extremely positive impact on public policy in Arizona."
On Tuesday, House Minority Leader Chad Campbell announced he won't be running for governor next year.
Campbell's decision leaves former state Board of Regents chairman Fred DuVal as the only Democrat in the gubernatorial race.