Discuss as:

Steele withdraws from RNC chair race, backs Cino

Michael Steele has just dropped out of the race to retain his job at the helm of the RNC and endorsed Maria Cino to be the committee's next chair.

"At this time I will step aside for others to lead," he said.

"It's very clear the party wants to do something a little different and maybe a little better," Steele said in announcing his decision to withdraw his candidacy.

He received a standing ovation from committee members.

The fifth round of voting will begin now. Four candidates remain in the race.

Watch his speech below:

Visit msnbc.com for breaking news, world news, and news about the economy