Ontario Economic Development and Trade Minister Joe Cordiano is leaving his cabinet post and giving up his seat as an MPP, Cordiano and Premier Dalton McGuinty confirmed Monday.

"Recently, Joe told me that, after so many years in public life, it was time for him to do something new," McGuinty told a news conference. "I'm going to miss Joe Cordiano the politician. But I have told him that I understand the decision that Joe Cordiano, the person, is making."

Education Minister Sandra Pupatello will take over Cordiano's cabinet duties, McGuinty announced from a pre-session caucus retreat in Cobourg.

"Sandra is one of our best communicators and a born salesperson. She's passionate about what Ontario has to offer the world," said McGuinty. "And she understands the backbone of our economy, the auto sector, as demonstrated by her track record in her hometown of Windsor."

"I know Sandra will work hard to maintain and accelerate the momentum we have built up on the world's economic stage."

After serving as an MPP in the west-end Toronto riding of York South-Weston for 21 years, Cordiano said he has no concrete plans for after he leaves public life.

"It's time for a new challenge, outside of government," he said. "And after so many years of selfless support from my wife Rose, and my daughters Lara and Natalie, it's time to give back to them."

Backbencher Kathleen Wynee -- a former Toronto school board trustee and Pupatello's parliamentary assistant -- will take on the Education portfolio.

"She understands our agenda and the issues facing schools, and I'm confident she'll do a great job," McGuinty said.

Cordiano was credited by McGuinty for his key role in securing jobs and some $7 billion in new auto investment for Ontario.