08/29/2014 04:15 EDT | Updated 10/29/2014 05:59 EDT

Olympic sprinter Jared Connaughton announces retirement

P.E.I.’s noted sprinter Jared Connaughton, the Maritime record holder for the 100 and 200-metre event and a two-time Olympian, has announced his retirement in an exclusive interview with CBC News Friday.

“I’ve done all I can with the sport and I’m very proud of what I’ve done,” said Connaughton. “I’m very thankful for all the people who have been in my corner and I think we’ve all unanimously decided upon this decision and it’s time to move on.”

Connaughton, 29, a four-time Canadian national champion, made news in the 2012 Summer Olympics when he and his teammates in the 4x100 metre relay race were disqualified after he stepped on a lane line.

At the time, Islanders said Connaughton handled the Olympic defeat with grace. Team Canada would have scored a bronze medal.

Stepping on the line

“To step on the line and take that opportunity away to stand on the podium was devastating but I was never ashamed of it. I was never afraid of addressing it or confronting it, it was an honest athletic mistake and those things happen,” said Connaughton.

He said other factors played into his decision as well. Connaughton is a newlywed and says he and his wife would like to start a family. He also mentioned that he has been having issues with ongoing injuries the past few seasons.

The two-time Olympian and former Olympic captain said he’s done what he set out to do.

At only five foot nine inches, the New Haven native says his success as a sprinter was unlikely. But Connaughton hopes the next phase of his life will go towards coaching other athletes to follow the same path.

“When it's time, and I feel it's time, it's good to move on.”