Iceland Prime Minister Johanna Sigurdardottir, the world's first openly lesbian head of state, has announced she won't return next year.

“There is a time for everything, also for my time in politics which has been long and eventful,” she said in a statement. “Now I believe it is time for others to take the baton that was passed to me following the crash. I have therefore decided to leave political life at the end of this term.”

Sigurdardottir, a former member of the Icelandic Parliament since 1978, stepped in to take over the nation's reigns as Prime Minister Geir Haarde was forced out when public unrest over the nation's economic crisis unseated the government in 2008.

Sigurdardottir, the leader of the Social Democrats, was named interim prime minister at first and retained power in elections held in 2009.

Under her watch, Iceland extended marriage rights to gay and lesbian couples.

The 2008 economic meltdown which took down the former coalition government also crushed the nation's banks and sent Iceland's unemployment rate skyrocketing. The island nation has just begun to recover from the “crash.”

Sigurdardottir is married to writer-playwright Jonina Leosdottir. She is the mother of two adult sons from a previous marriage. She turns 70 next week.