New Hampshire Republican Party Chairman John Sununu announced Monday that he will not seek another two-year term.

“For a variety of personal, family and business reasons I cannot provide the time and focus required to serve as chairman for another 2-year term,” Sununu said in a statement released by the state party.

The party credits Sununu, a former governor and White House chief of staff under President George H.W. Bush, with rescuing the state party after “three disastrous election cycles” in which Democrats picked up the governor’s office, a Senate seat, both House seats, majorities in the state House and Senate, and a majority on the executive council.

Sununu, who took over in 2009, “revamped the party’s neglected political infrastructure, increased fundraising and retired longstanding debt,” the release stated. That led to the party winning back both House seats and holding Sen. Judd Gregg’s seat, as well as winning control of both legislative chambers and all five seats on the executive council.

The Nashua Telegraph on Sunday reported several potential replacements for Sununu as the party moves forward into the presidential election cycle: Cheshire County Republican Chairwoman Juliana Bergeron, former House candidate Jennifer Horn, James Sununu and former state party Executive Director Paul Young.

“It is important that we elect a new chairman who is capable of managing the party, raising money and expanding our reinvigorated grassroots effort for 2012,” Sununu said in the statement.