Former Sen. John Sununu (R-N.H.), who lost his re-election bid last year to former Gov. Jeanne Shaheen (D), announced today that he will not run for Sen. Judd Gregg's (R) seat in 2010. Here's his statement:

"Representing New Hampshire in the United States Senate is a great honor, but effective public service is much more than just a desire to hold office. It's essential that the timing fit both personally and professionally.

This year I've made commitments to serve several technology firms, begun working with a number of non-profit policy groups, and continue to serve on the Congressional Oversight Panel for the TARP.

Equally important, campaigns require great sacrifice from family. After running in seven primary and general elections over twelve years, my family still means more to me than anything else. I very much intend to keep it that way."

The statement also notes the many activities keeping Sununu busy, including posts on the boards of Time Warner Cable, Boston Scientific, and ConvergEx Group, serving on the Congressional Oversight Panel for the Treasury's TARP program, and on the Middle East Working Group for the U.S. Institute of Peace.

Sununu's decision means that Rep. Paul Hodes (D) is still unopposed, though several Republicans are still considering the race. Washington Republicans are hoping that state Attorney General Kelly Ayotte will enter. Businessman Fred Tausch has also emerged this week as a potential candidate for Republicans, though one New Hampshire blog noted that he donated late last year to Barack Obama's presidential campaign.

Granite State Democratic Party chair Ray Buckley said that Sununu's decision "comes as no surprise." "Paul Hodes is a terrific leader with a record of delivering for the people of New Hampshire," he said in a statement. "He is a superb candidate and we are confident that he will be successful in 2010."