Following the release of the results of Thursday’s referendum on the independence of Scotland, Alex Salmond, Scotland’s first minister and Scottish National party leader, announced on Friday his decision to resign after failing to secure a majority for “yes”.

During a press conference in his official residence, Salmond stated that he will stand down as first minister when a new SNP leader is chosen.

The first minister noted that he had made the decision after the referendum results were released. “For me right now there is a decision as to who is best placed to lead this process forward politically. I believe that in this new exciting situation, redolent with possibility, party, parliament and country would benefit from new leadership,” he underlined.

According to media reports, Salmond is likely to be succeeded by his deputy Nicola Sturgeon, who was appointed by Salmond to lead the referendum process.