Vancouver’s police chief says the decision to retire before the end of his contract was a difficult one, but it’s the right time for him to go.

Jim Chu made the surprise announcement ahead of a press conference with the mayor Friday morning.

The 36-year force veteran served as chief for the past seven-and-a-half years, and says crime rates in the city lowered every year that he was in charge.

“I think we’re closer to becoming Canada’s safest city and now it’s time for someone to take over, and move us closer to that goal,” Chu told reporters.

Chu said he sat down with senior executives earlier this month and told the mayor and police board about his decision.

He said he is the last person out of his 1979 graduating police academy class who is still working. His wife, also a police officer, is now retired as well.

Chu has two years remaining on his contract, but insists he’s not leaving for another job.

“I’m not ruling anything in. I’m not ruling anything out. I don’t know what I’m going to do next,” Chu said.

Asked whether he’d consider running for political office, Chu said he’s turned down offers in the past, but didn’t rule out the possibility of pursing one in the future.

Chu feels there are “serious contenders” who currently serve for the VPD who would be right for the job.

He mentioned several times his concerns that a number of senior officers are being courted by other policing agencies, and he’s worried that they would be poached before getting a chance to be promoted to chief.

“There are talented people that can take over for me but this is a decision for the police board, and I know they’ll make the right decision for the city,” he said.

Mayor Gregor Robertson, who is the Police Board Chair, says the board will soon embark on a Canada-wide search for suitable officers.

“I don’t underestimate the challenge. These are big shoes to fill,” he said.

Robertson says there are many eligible candidates within the force and he estimates the process to find a replacement will take several months.

Chu will be greatly missed by the people who served with him at the city, he added.

“His leadership in Vancouver at the VPD has certainly demonstrated the results, the outstanding commitment that goes beyond the call. The VPD motto, he lives it,” Robertson said.

Robertson said the crime rates in Vancouver have dropped much faster than other major Canadian cities, thanks to Chu’s hard work and dedication.

The mayor says Chu’s work was marked by some very difficult chapters in the city’s history: the 2007-2008 gang war, the missing and murdered women inquiry and hosting thousands of visitors for the 2010 Olympic Winter Games.

Chu will remain on until his successor starts.