Kerrey was a candidate for the Democratic presidential nomination in 1992. He retired from the Senate in 2000 and was replaced by former Governor and fellow Democrat Ben Nelson. From 2001 to 2010, he served as president of The New School, a university in New York City. In May 2010, he was selected to become the head of the Motion Picture Association of America. The MPAA, however, could not reach an agreement with him and chose former Connecticut Senator Chris Dodd instead.
In 2012, Kerrey sought election to his old Senate seat to succeed retiring Democratic incumbent Ben Nelson. He lost to Republican nominee Deb Fischer.
In 2013, Kerrey joined the Carmen Group lobbying firm.

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