Carly Fiorina announces presidential bid

Former Hewlett-Packard CEO Carly Fiorina announced her candidacy for president on Monday, becoming the first declared female candidate to seek the Republican Party's nomination.

"Yes, I am running," Fiorina said on ABC's "Good Morning America." "I think I'm the best person for the job because I understand how the economy actually works. I understand the world; who's in it."

The ex-Silicon Valley executive and long-shot White House contender has never held public office. In 2010, she unsuccessfully ran for Senate in California, losing to Democratic Sen. Barbara Boxe