Senator Chuck Hagel to retire according to the Omaha World-Herald.

Chuck Hagel will announce Monday that he is retiring from the U.S. Senate and will not run for president next year, people close to the Nebraska Republican said Friday.

Nebraska Sen. Chuck Hagel plans to leave the Senate after two terms as a Republican Party maverick, people close to him say.Hagel plans to announce that “he will not run for re-election and that he does not intend to be a candidate for any office in 2008,” said one person, who asked not to be named.

Hagel has scheduled a press conference for 10 a.m. Monday at the Omaha Press Club.

According to one person interviewed, Hagel told Senate Republican Leader Mitch McConnell of Kentucky on Friday morning that he had decided to retire. Hagel’s staff learned of his decision that afternoon.

The Republicans had better be looking for a candidate to run for this seat immediately.