Story highlights French citizens will elect the country's president in April and May 2017

Unpopular incumbent Francois Hollande says he will not stand again

(CNN) France's President Francois Hollande announced Thursday he will not seek a second term in office.

French voters will go to the polls in April and May 2017, but Hollande, who has low popularity ratings, says he will not stand for re-election.

"I am speaking to you this evening to inform you of the decision I have taken in view of the forthcoming presidential election," he said. "I have decided not to be a candidate in the presidential election."

It is the first time since 1958, when France's fifth republic was created, that an incumbent president has not sought re-election.

Aussi, j'ai décidé de ne pas être candidat au renouvellement de mon mandat — François Hollande (@fhollande) December 1, 2016