The England manager’s contract had been set to expire at the end of the 2016 European Championships with FA chairman Greg Dyke previously stating the 68-year-old would only stay on if the Three Lions ‘do well’ in France.
That would certainly not have included a last-16 exit to Euro 2016 minnows Iceland following an abject performance and 2-1 defeat in Nice.
And rather than wait for instructions from above, Hodgson immediately addressed the press in the wake of Monday evening’s defeat to inform them of his decision to step down with immediate effect.
“I am extremely disappointed about tonight’s result and ultimately our exit from the competition,” said Hodgson.
“We haven’t progressed as far as I’d thought we were capable of and ultimately it is not acceptable.”
Hodgson took over from Italian Fabio Capello four years ago but has won just three of 11 games in major tournament finals.
At the 2014 World Cup in Brazil, he was in charge of the England team which failed to progress past the group stages although, after qualifying for this summer’s European Championships with a 100 per cent record, hopes had been high for redemption in France.
However that failed to materialise following a stuttering group campaign and subsequent defeat to Iceland.
Hodgson also confirmed coaches Ray Lewington and Gary Neville would also depart with him.
The FA now need to rebuild, with qualifying for the 2018 World Cup in Russia due to start at the beginning of September.
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