"The Socialist candidates must know that the failure of Francois Hollande is not only his personal failure but is a defeat of all Socialists, it is a failure of an obsolete and incoherent system of ideological thought," Myard said.
On Thursday, the incumbent President of France addressed the nation asserting that he would not seek re-election citing that politically his candidacy might have posed "risks" to the French left-wing politics. In a stunning move, the deeply unpopular president will become the first French president since the second world war not to seek a second term in office.
However, Myard praised Hollande's decision to withdraw, pointing that otherwise it could be a political suicide for the president.
"This announcement is, first of all, the recognition of the failure of his five-year term. Besides, if the President had dared to run for the presidency, we could have spoken of a political suicide and scuttling," Myard said.
The lawmaker stressed that once Hollande is out, the Socialist primaries in January could become more "interesting and decisive."
Prime Minister Manuel Valls and former economy minister Arnaud Montebourg are expected to compete to be at the top of the Socialist ticket during the Socialist primaries in January.
The French presidential elections will take place in April and May 2017. France's former prime minister Francois Fillon who won The Republicans primaries is expected to face far-right National Front (FN) leader Marine Le Pen and a nominee of the ruling Socialist Party, who will be picked in January.