mingw32-g++.exe: error: CreateProcess: No such file or directory

Question

I just installed Code::Blocks 12.11 and create a console application by the Wizard the hello world code was in there by default. I tried to compile it but I come across this build error:

-------------- Build: Release in example (compiler: GNU GCC Compiler)---------------
mingw32-g++.exe -Wall -fexceptions  -O2     -c "E:\Workspace\C++\Code Blocks\example\main.cpp" -o obj\Release\main.o
mingw32-g++.exe: error: CreateProcess: No such file or directory
Process terminated with status 1 (0 minutes, 0 seconds)
1 errors, 0 warnings (0 minutes, 0 seconds)

What should I do to solve it?