Yaroslavsky announced his decision on his website Thursday morning. (Courtesy Creative Commons/ Obama for America)

The 63-year-old politician said he will complete his current term on the Board of Supervisors then "move on to other things" in order to let "a new generation of leaders to emerge and guide this region into the future." 

"I have no doubt that, with my expertise and experience, I could help transform L.A.'s fortunes. In the end, however, it is this very length of service that has tipped the scales for me," the supervisor said.

Yaroslavsky was elected to the Los Angeles City Council in 1975 and has served on the board for over 20 years. City Council members Eric Garcetti and Jan Perry and City Controller Wendy Greuel are in the race for mayor, as is radio host Kevin James.

Read the story at the Los Angeles Times.

Follow Neon Tommy's coverage of Los Angeles politics.

Reach Executive Producer Dawn Megli here.