Story highlights "I have decided that I can be of more value outside the system than a single voice among a hundred inside the system," Fiorina said Friday.

Gilmore told CNN Friday that he was "considering" whether to run.

(CNN) Former Hewlett-Packard executive Carly Fiorina said Friday that she would not seek the Republican nomination for US Senate in Virginia's 2018 election.

"I have made a decision," Fiorina said on the John Fredericks Show. "I have decided that I can be of more value outside the system than a single voice among a hundred inside the system. So, I'm going to continue the work I've been doing for many years enlisting up leaders and problem solvers all across the country and have made the decision not to seek the US Senate seat here in the Commonwealth."

Fiorina announced months ago on the same show she was considering a run.

Fredericks speculated on air that former Virginia Gov. Jim Gilmore might jump in the race.

When reached by CNN on Friday, Gilmore said he was "considering" the possibility of his candidacy.

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