WASHINGTON, D.C.—U.S. Senator Jim Webb (D-Va.) announced this morning he will not seek re-election in 2012.

Webb has served since early 2007.

“After much thought and consideration, I have decided to return to the private sector, where I have spent most of my professional life,” Webb said in a news release. “Notwithstanding this decision, I have every intention of remaining involved in the issues that affect the well-being and the future of our country.”

“It has been a great and continuing privilege to serve in the U.S. Senate,” he continued. “I am very proud of my talented and dedicated staff, which has worked tirelessly to resolve the issues on which I based my candidacy, and to protect the interests of all Virginians in this national forum.”