Roy Hodgson has stepped down as manager of England following their 2-1 loss to Iceland in the European Championship.

England went up 1-0 early but gave up a quick equalizer and an eventual second goal.

Hodgson was manager of England for four years and also was unable to get out of the group stage of the 2014 World Cup.

The minimum requirement, as recently reiterated by the outgoing chairman of the Football Association, Greg Dyke, had always been a quarter-final berth at Euro 2016 for Hodgson to secure a two-year extension.

Hodgson was the highest-paid manager of the tournament at £3.5 million per season.

“I’m extremely disappointed of course about tonight’s result and, ultimately, our exit from the competition,” said Hodgson, who won only three of 11 games across three major tournaments. “We haven’t progressed as far as I thought we were capable of, and that’s obviously not acceptable. I’m actually proud of the work my coaching staff and I have achieved over our time at the helm of England. The transition from the squad whose average age was 30 to now being the youngest in the tournament is both remarkable and exciting for the future of English football.

However, I am pragmatic and I know we are in the results business. My contract was always up after the Euros, so now is the time for someone else to oversee the progress of this young, hungry and extremely talented group of players. They have been fantastic and have done everything that has been asked of them. When I arrived I was told players didn’t turn up to play for their country or that they pulled out at the last minute. I have not seen any of that. These players love to play for their country and their commitment has been unquestioned.”