(CNN) -- Young German driver Nico Hulkenberg is looking for a new Formula One team after failing to agree a contract extension with Williams, the motorsport's official website reported on Monday. While the British-based team has retained veteran Brazilian Rubens Barrichello for 2011, the 23-year-old Hulkenberg will seek a new race seat following an impressive rookie season. "I heavily regret that, because I would have been happy to stay with Williams," said Hulkenberg, who secured the team's first pole position since 2005 in Brazil this month. "I want to thank the team for a great time and I wish Williams all the best for the future."
@highlight
Nico Hulkenberg leaves Williams after contract negotiations for 2011 break down
@highlight
British team will retain veteran Rubens Barrichello and name new driver by end of year
@highlight
Hulkenberg had an impressive rookie season, claiming pole position in Brazil
@highlight
The drivers helped Williams to retain sixth place in the constructors' standings
"'First, I would like to thank Nico for his hard work this year, and before that in preparing himself for @placeholder," team boss Frank Williams told his outfit's official website.
Williams said @placeholder's teammate for his 19th season driving in F1 will be announced before the end of this year.