The SDLP's deputy leader, Mr Seamus Mallon, has announced he will not be contesting the party leadership when Mr John Hume stands down as leader in November.
Mr Mallon (65), had been the favourite to succeed Mr Hume. However, at a press conference at Stormont yesterday he said "Anno Domini" - his age - had been a major factor in influencing his decision.
"I am 65 years of age now. I have been at the coalface. While all great things mature with age the energy may not be in the bottle to the extent that is needed. Had it been 10 years earlier, would I have been taking this decision? The answer is no," a visibly heavy-hearted Mr Mallon said.
"Politics is a very demanding profession. There are no nine to five elements about it. It cannot be done on an ad hoc basis."
He was, however, heartened by his conviction that he was making the right decision, the SDLP deputy leader and acting Deputy First Minister insisted.
"It is my considered view that the party should elect a new leadership team - both the leader and deputy leader. I have served the party as deputy leader through very difficult times. The time is now right for change.
"It was not a decision made yesterday. It is a decision I have been trying to make for some considerable time. I spoke to John Hume before he made his decision. I spoke to him last week. I have taken counsel with people whose judgments I value and I have made, I believe, the right decision," he said.
Mr Mallon stressed that he would continue to carry out his duties as MP for Newry/South Armagh as well as do his utmost to "continue to try to secure a successful outcome to the current political impasse".
He expressed his exasperation at the uncertainty currently surrounding the North's political institutions.
"I am in some sort of quasiland of fulfilling the role of Deputy First Minister. I have been out of office four times in three years. That is quite a remarkable achievement and probably an achievement that will never be matched in any political institution."
Stressing the importance of decommissioning as the "only way to get out of this recurrent malaise", Mr Mallon said it was worrying that some parties were putting their party interest before that of the people of Northern Ireland.
"I do not diminish the importance of decommissioning. I believe it is absolutely essential that it is done and done in such a way that it will stop poisoning the political process."
Mr Mallon said he was confident the Belfast Agreement would survive given there were no credible alternatives. Much had been achieved by the party leaderships but achievements were threatened when uncertainty set in, he added.
"It is a semi-miracle that we have got to where we are [in the peace process] and this was achieved by the current leaderships. But I do not believe in interregna - they simply postpone decisions. My decision today is an attempt to make it easier for our party in that respect," he concluded.
Mr Hume's successor will be chosen at the SDLP's annual conference on November 9th and 10th. Nominations for party posts were due to close on Friday but are likely to be extended by at least another week in the face of Mr Hume and Mr Mallon's decisions.
Mr Hume praised Mr Mallon's role over the past 30 years saying his ability and skills as the party's deputy leader had been "outstanding".
"Seamus and I both recognise that the time has now come for a new generation to take over the leadership of the party . . . All members of our party will continue to work as a team to implement all aspects of our party, to lay the foundations for peace and stability and to build a new society," he said.
The party's chief whip, Mr Eddie McGrady, praised Mr Mallon's contribution to politics saying the people of Ireland were "forever in his debt".