National Rifle Association President Oliver North will not be serving a second term, according to a letter he wrote that was read aloud by an NRA board member at the organization's annual convention.

"Please know I hoped to be with you today as NRA president endorsed for reelection," North wrote in his letter, which was read Saturday morning by Richard Childress, a vice president at the NRA. "I'm now informed that will not happen."

The development came after some NRA members tried to force out top executive Wayne LaPierre, who has been the face of the organization for years, The Associated Press reported. Earlier this week, LaPierre wrote a letter to the board claiming North sought to oust him and threatened to release "damaging" information about him. The letter was published Friday by The Wall Street Journal.

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The Journal reported that North had written a letter of his own claiming he was working for the good of the NRA.

NRA President Oliver North speaks at the NRA-ILA Leadership Forum at the 148th NRA Annual Meetings & Exhibits on April 26, 2019 in Indianapolis, Indiana. Getty

North, a lieutenant colonel, is perhaps best known for his role in the Iran-Contra scandal.

The rift in NRA leadership stemmed from its contentious relationship with Ackerman McQueen, the organization's advertising agency. The NRA is suing Ackerman McQueen for allegedly not being transparent in justifying its billings. North was hired by Ackerman McQueen to host an NRATV documentary program.

In his statement read to members of the group Saturday, North said he believes a committee should be set up to review the NRA's finances. "There is a clear crisis and it needs to be dealt with" if the NRA is to survive, North's statement said.

His announcement that he will not serve a second term is a clear sign that his efforts to force out LaPierre have failed.