Complex sentence: In November 2016, he announced that he would not seek a third term, and instead run as the SPD's candidate for the German Chancellorship in 2017; he was succeeded as President of the European Parliament by EPP MEP Antonio Tajani on 17 January 2017.
Split into simpler sentences: In November 2016, he announced he would not seek a third term, but instead would stand in 2017 as the SPD candidate for the German Chancellorship. He was succeeded as President of the European Parliament by EPP MEP Antonio Tajani on 17 January 2017.