On Monday, news broke that Tony Podesta, the powerful lobbyist and co-founder of the Podesta Group along with his brother, former Hillary Clinton campaign chairman John Podesta, has come under investigation by Special Prosecutor Robert Mueller and is stepping down from his position.
The Podesta Group held a firm-wide meeting Monday morning at which Podesta announced his decision to step down, according to Politico. The company will now be headed by firm CEO Kimberley Fritts, who will join a senior member for the company to launch a new firm, a plan the company claimed had been discussed for several months.
According to Politico, Podesta boasted to his staff that he “doesn’t intend to go quietly, or learn how to play golf,” that he “needs to fight this as an individual, but doesn’t want the firm to fight it.” Fritts reportedly stated that she was “thrilled at this opportunity” and that, “This is not about me, this is about y’all.” The meeting allegedly ended with a standing ovation for Podesta.
As Mueller and his team launched their investigations in 2017, over a dozen of the Podesta’s group’s lobbying clients have cut ties with the firm, while revenues have plunged from $6.1 million in the third quarter of 2016 to 5.2 million in the second quarter of 2017 to an estimated $4.8 million in the third quarter of 2017.
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