December 5, 2007
DES MOINES - Republican presidential hopeful Rudy Giuliani has stepped down as head of his consulting firm, Giuliani Partners, after months of refusing to disclose the firm's clients or the role he played.
Giuliani has been replaced as chairman by Peter Powers, a longtime friend and former aide, Sunny Mindel, Giuliani Partners spokeswoman, said yesterday.
The firm, started by the former New York mayor when he left City Hall in 2002, earned Giuliani about $4 million last year. Mindel said he would retain his equity stake in the company.