The NDIS minister will be stepping back in February after serving in his electorate since 2007, Prime Minister Anthony Albanese announced in Canberra today.
“My friend Bill Shorten has decided he will not be contesting the next election,” Albanese said.
“I have asked Bill to remain in cabinet until he departs in February.”
The PM commended Shorten on his “determination, drive and advocacy”.
“Bill has given it everything, every single day – his determination to make a difference, including to the most vulnerable people,” Albanese continued.
“Equally, I know that Bill is very determined to see the job through.”
Shorten told media he has decided to accept a role as Vice Chancellor of the University of Canberra.
“I have started to think about what comes next,” he said.
“I am excited to say, from February next year, I have been chosen to be the Vice Chancellor of the University of Canberra.”
He added: “Universities have a critical role to play. The hopes and dreams of Australians are lifted when they are able to fulfil their own potential.”
Shorten said he will be going back to his “day job” today but was approved for his new role on Wednesday.
“I have experienced some extraordinary political highs in the last 17 years. Let’s face it, some extraordinary political lows,” he said.
“There is not a single day in the last 17 years that I would hand back.
“Because every day I know how lucky I have been to have the privilege to serve the Australian people.”
He also confirmed he will be moving to Canberra for his role as Vice Chancellor in February 2025.
“I am thankful to be leaving parliament while there are still some people who want me to stay,” he added.
Shorten, who led Labor from 2013 to 2019, lost his bid for prime minister both in 2016 and 2019 before PM Albanese was elected to replace him.
Shorten was known for lobbying MPs to drum up support for candidates for the top job other than rival Albanese during ths time.
After stepping down as Labor leader, Shorten served as the Minister for Government Services and Minister for the National Disability Insurance Scheme since 2022.
He began his work in government as an organiser of the Australian Workers’ Union in 1994.
Shorten, from Victoria, entered into politics in 1998 after winning preselection for the safe Labor seat of Melton.
He was also a director of Australian Super before entering parliament in 2007.