President Donald Trump’s second inauguration on Monday was barely underway when news broke that Vivek Ramaswamy, a businessman tapped by Trump to serve as co-chair of the newly revamped Department of Government Efficiency (DOGE), would not assume the role as planned.

Ramaswamy, a biotech entrepreneur and author, was initially seen as a strategic pick for DOGE, an initiative aimed at streamlining government operations and cutting unnecessary bureaucracy. His reputation for innovation and disruptive thinking had made him a favorite among Trump’s advisors. However, reports quickly emerged that Ramaswamy had declined the position just hours before the official announcement.

Speculation swirled about the reasons behind the abrupt decision. Sources close to the matter suggested that Ramaswamy and the administration had differing views on the scope and execution of DOGE’s mandate. Others hinted at potential conflicts with his ongoing business ventures, which could pose challenges to fulfilling the role’s demands.

Ramaswamy issued a brief statement thanking President Trump for the opportunity but cited “personal and professional commitments” as his reason for stepping aside. “I am deeply honored by the President’s confidence in me and remain fully supportive of his vision to make the government work more efficiently for all Americans,” he said. “However, after careful consideration, I have decided that I cannot fully commit to the role at this time.”