Veteran Maharashtra politician and former Union minister Sharad Pawar on Tuesday said he has decided to step down as the president of the Nationalist Congress Party (NCP), reports PTI.

“I have decided to step down as NCP president,” Pawar was quoted as saying by PTI. He has not named a successor and it is not clear whether his nephew Ajit Pawar will take command of the party following his departure.

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Addressing a gathering during the launch of the second edition of his autobiography, ‘Lok Maze Sangati’. Pawar, who founded the NCP in 1999, said he will not contest elections henceforth. “I have three years tenure remaining in Rajya Sabha. I will not contest elections now. I started my political career on May 1, 1960. Yesterday we celebrated May day. After this prolonged political career, one must think about stopping somewhere. One must not be greedy,” Pawar said.

Announcing his decision to step down, Pawar recommended the formation of a committee comprising senior NCP leaders to decide the future course of action.

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“The committee will include, Praful Patel, Sunil Tatkare, PC Chacko, Narhari Zirwal, Ajit Pawar, Supriya Sule, Jayant Patil, Chhagan Bhujabl, Dilip Walse-Patil, Anil Deshmukh, Rajesh Tope, Jitendra Awhad, Hasan Mushrif, Dhananjay Munde, Jaydev Gaikwad and chiefs of party frontal cells,” Pawar said.

The development, which marks a tectonic shift in the politics of Maharashtra as well as the nation, comes amid a rift with his nephew Ajit Pawar over the latter’s alleged measures to switch sides and join ranks with the Bharatiya Janata Party.

While Ajit Pawar has denied any such development, political circles have been abuzz over the former deputy CM charting a different political course.

The announcement by Sharad Pawar, credited with stitching together the Maha Vikas Aghadi coalition that trumped BJP to come to power in the state, was met with shock by party workers and leaders who rose to their feet and urged their leader to withdraw his decision.

Pawar, a political stalwart whose political rise in the state as well as nationally is credited to his sharp acumen and unpredictability, has said that he may be stepping down as NCP president, but will continue to work for the people of Maharashtra.