By Reid J. Epstein And Elizabeth Williamson 

Aiming to fill two niches left vacant by the rest of the presumptive 2016 Republican presidential field, Carly Fiorina on Monday formally launched her White House campaign.

Ms. Fiorina, the only woman and the only Republican who comes from the business world in the race, announced her candidacy by changing her Facebook profile picture to read, "Carly for President."

"Yes, I am running for president," the former Hewlett-Packard CEO said during a Monday morning interview 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, how the world works."

The presidential campaign is an attempt at a career comeback of sorts for Mrs. Fiorina, who was fired by the HP board in 2005 after a management struggle.

Now Ms. Fiorina, 60 years old, is pitching herself as a conservative with global business experience. She has met with foreign leaders like Russian President Vladimir Putin, she says, and is the only Republican who can negate the historic nature of presumptive Democratic nominee Hillary Clinton's effort to become the first woman president.

In her pitch to the Conservative Political Action Conference in February, Ms. Fiorina poked the globe-trotting former secretary of state with the line: "Flying is an activity, not an accomplishment," and closed with the zinger: "If Hillary Clinton had to face me on a debate stage, at the very least she would have a hitch in her swing."

Ms. Fiorina has proved popular so far among Republican activists in early nominating states. Yet her path to a first-tier candidacy requires accepting a number of inconsistencies.

She says the three first-term senators lack sufficient experience to be commander-in-chief, but she doesn't have that line on her résumé, having lost to Sen. Barbara Boxer (D., Calif.) in 2010, her first foray into politics as a candidate.

And Ms. Fiorina is aiming to appeal to the same conservative activists she alienated in 2008 when she said Sarah Palin, then the GOP's vice presidential nominee, wasn't qualified to run a major corporation.

Ms. Fiorina was sacked from the job for which she is best known. The Hewlett-Packard board fired her after a 2005 boardroom-management slugfest. She now brands herself as a social conservative--though one who granted benefits to gay couples as a CEO and says she'd oppose a constitutional amendment to forbid gay marriage. And she says she is uniquely qualified to lead the charge against "crony capitalism: when big business and big government get together to stack the deck against the small."

Like most of her GOP rivals, Ms. Fiorina opposes the Common Core national education standards and the Affordable Care Act. She would kill off the Export-Import Bank, which she says is emblematic of the too-cozy relationship between big business and big government.

"We have two structural problems in this economy. One, we are tangling people's lives up in a web of dependence," she says, through welfare programs that discourage entrepreneurial risk-taking. Second, she says, "What we need to do is recognize that while big companies are really important, it's the little guys that are the engine of growth in this economy."

Born in Austin, Texas, Mrs. Fiorina graduated from Stanford University and has master's degrees from the University of Maryland and the Massachusetts Institute of Technology.

She now lives in suburban Washington and leads two charitable organizations: Opportunity International, which makes loans of as little as $150 to impoverished would-be entrepreneurs, and Good360, which channels excess corporate inventory to the poor.

Ms. Fiorina hasn't held any full-time private-sector job since leaving H-P a decade ago. She has never served in elected office, and her government service is limited to unpaid service on the Defense Business Board, which looked at staffing issues, among others, at the Pentagon; and two years as chair of the Central Intelligence Agency's External Advisory Board, from 2007 to 2009.

Write to Reid J. Epstein at Reid.Epstein@wsj.com and Elizabeth Williamson at elizabeth.williamson@wsj.com

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