The financial executive and Fox News commentator issued a statement yesterday saying it wasn't the right time in his personal and professional life for him to run. Senor is married to CNN anchor Campbell Brown, and the couple have two young sons.
Senor was chief spokesman for the Iraq War effort in 2003, after the United States launched its military invasion. National Republicans were enthusiastic about his candidacy, believing his business and foreign policy credentials would make him a strong challenger to Gillibrand.
In his statement, Senor said, "There are a number of terrific opportunities for Republicans in 2010 - including in this Senate race - and I will lend a hand wherever I can be helpful. I love this state, and I intend to stay involved in matters that affect it."