Delaware Supreme Court Chief Justice Leo E. Strine Jr.’s announcement Monday that he plans to retire from his post as the state’s top jurist came as little surprise to many in the state bar, after rumors had swirled for months that he may soon step down.

But the decision was met Tuesday with appreciation for a jurist regarded as one of the state’s top legal minds, as well as speculation about what he might do next.

In a letter to Gov. John Carney, Strine, who assumed the role of chief justice in 2014, said the decision was “bittersweet,” as he expressed gratitude for his 27 years in public service, which also included a stint as legal counsel to former Gov. Tom Carper and 16 years on the state’s influential Chancery Court.

From 2011 to 2014, he served as Chancery Court chancellor, leading what is regarded as the nation’s preeminent tribunal for corporation law and business affairs.

“I am also grateful, governor, that I can say to you with confidence that the Judiciary of this state is strong, that we are addressing our challenging and diverse caseloads with diligence, skill and dispatch, and that we are continually looking for ways to serve the people of Delaware even more effectively,” Stine wrote in the three-page missive, made public Monday by the Administrative Office of the Courts.

Strine, known for both his wit and sometimes prickly demeanor, has expanded the Delaware courts’ initiative to increase access to justice and has tangled with lawmakers in recent years over his efforts to secure state funding for new downstate court facilities and increased pay for judiciary branch employees.

From the bench, he is often a tough and engaged questioner who isn’t afraid to deploy a wry sense of humor to convey a point.

“I did always appreciate his sense of humor,” said Michael P. Kelly, chairman of McCarter & English. “I’ll miss the toe-to-toes comedy contest.”

But mostly, Strine was regarded Tuesday for his contributions to Delaware corporate law, a major selling point for the state that is often cited as the reason why a majority of the nation’s Fortune 500 companies decide to incorporate there.

The two “principal markers” of Strine’s time on the bench, said corporate law professor Lawrence Hamermesh, were his respect for markets and the will of shareholders in deciding corporate matters.

Robert J. Jackson Jr., head of the U.S. Securities and Exchange Commission, said Tuesday that the impact of Strine’s ”expert judgment and wisdom” had been felt well beyond Delaware.

“On behalf of the nation’s investors, I thank the chief justice for his exceptional public service—and look forward to his continued contributions to the development of American corporate law,” Jackson said in a statement

“His impact of Delaware jurisprudence will be felt for generations,” said Francis Pileggi, vice chair of Eckert Seamans Cherin & Mellott’s commercial litigation practice. “On terms of his influence on Delaware corporate law, he’s a giant.”

Rumors about Strine’s future began to spread earlier this year, when he did not hire law clerks for the Supreme Court’s upcoming term. Still, there was little idea of when an announcement might come. When one attorney approached the chief justice in March, Strine played coy and did not directly address questions about his plans, the attorney said.

A spokesman for the courts said Monday that Strine was on vacation and was not available to comment.

The prevailing thought Tuesday was that Strine would likely take a job in private practice, as other former judges on Delaware’s Chancery and Supreme courts have done in the past. Strine, 55, has children approaching college age, which may also play a role in his decisions, sources said.

Strine said in his letter that he planned to officially retire in the fall, in order to give the governor time to name his successor. He said he hoped to leave office on either the last day of September or October because “that is what I’m told is best for the pension office and my family in terms of scheduling my retirement from state service.”

The upcoming opening at the helm of the state’s high court could create other vacancies within the judiciary, if Carney chooses a candidate already serving as a sitting judge.

While Delaware’s two most recent justices came to the court with prior Chancery Court experience, it is not a prerequisite for the job. However, Strine’s successor would be expected to be well steeped in Delaware corporate law, either through judicial experience or expertise in private practice.

“I suppose a betting person would say they’d be looking at that sort of background, but you can get that any number of ways,” Hamermesh said.

The state’s Judicial Nominating Commission, tasked with vetting candidates for judges, is expected to post the opening in the coming weeks. The panel will review the pool of applicants and forward its shortlist of finalists to Carney for his consideration.

Carney’s nominee would need to be confirmed by the Senate during a special session of the Delaware General Assembly expected for the fall.