Businessman Herman Cain has suspended his campaign for the Republican U.S. presidential nomination following allegations of sexual harassment and infidelity.

Cain made the announcement at an event Saturday in his home state of Georgia.

He called the accusations against him “false” and “unproved” and told supporters they have hurt his wife and family and “distracted” his ability to present solutions to the American people. Cain's wife appeared with him on stage.

The former pizza executive shot to the top of the public opinion polls in September and October but saw a drop in support after several women came forward accusing him of sexual harassment. In the most recent allegation, a Georgia woman claimed she and Cain had a 13-year affair.

Despite Cain's decision to suspend his campaign, he said he is not going to be silenced and promised he is not going away.

Saturday's event was originally scheduled to mark the opening of Cain's new campaign headquarters.

In addition to the sex scandals, Cain also had some awkward moments on foreign policy, including a fumbled answer when asked to comment on U.S. President Barack Obama's policy on Libya.

Cain's struggles have cleared the way for former Speaker of the House of Representatives Newt Gingrich to surge ahead in opinion polls, surpassing even former Massachusetts governor Mitt Romney.

The first voting in the Republican primary campaign begins on January 3rd with the Iowa caucuses.