State treasurer will not seek re-election

Delaware Treasurer Colleen Davis announced Dec. 4 she will not seek a third term in 2026.

In a statement, Davis said she reflected for months before making her decision and believes the moment is right for her, personally and professionally.

“I want to make room for a new leader to step up. But in the 13 months ahead, my focus will remain exactly where it has always been: delivering results for the people of Delaware,” she said.

Davis was elected treasurer in 2018 and re-elected in 2022.

Davis said she is proud of her work helping strengthen Delaware’s finances, and generating more than half a billion dollars in investment returns. During COVID, she said her office refinanced state bonds and delivered relief funds to help people stay afloat. The office also launched Delaware EARNS, giving thousands of small-business workers a way to save for retirement, she said. The office also continues to grow and modernize other savings programs, such as DE529, ABLE and deferred compensation.

“For the remainder of my term, I will continue working closely with the Meyer administration and the General Assembly to advance policies that will keep Delaware’s finances strong for years to come. And I’ll ensure a smooth transition for the next treasurer,” she said. “This has been an incredible journey. I owe so much to the support of an amazing network of friends, family and everyday Delawareans who wanted a treasurer committed to protecting our state’s finances while uplifting working people. And I’m grateful for my incredible team at the Office of the State Treasurer. They work hard every single day to make life better in our state. Finally, I have to thank the people of Delaware for entrusting me with this duty. It has truly been the honor of a lifetime.”