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Javier Aguirre has stepped down as Mexico manager following their exit from the World Cup.
The former Atletico Madrid boss has quit his second stint in the Mexican hot-seat after failing to take his country beyond the second round of the South Africa finals.
El Tri suffered their fifth straight last-16 defeat after they were ousted 3-1 by Argentina on Sunday.
Aguirre, who replaced former England manager Sven-Goran Eriksson as Mexico boss 15 months ago, guided his national side into the latter stages after finishing second in Group A.
They drew 1-1 with hosts South Africa and triumphed 2-0 over France en route to progressing but came unstuck as Diego Maradona's side triumphed in Johannesburg.
"I have to leave, it's the most honest thing to do," said Aguirre, who was reported to be the third highest-paid coach at the summer finals behind Italy's Marcello Lippi and England boss Fabio Capello.
"Everything I did, I did thinking of the well-being of Mexico.
"The plan was to qualify to the quarter-finals, be among the eight best in the world. Since this didn't happen, the the team and I agreed that continuing was impossible."
Aguirre, who was replaced as Mexico coach after they were eliminated by the United States in the 2002 event, believes the next coach should be retained for the entire four-year World Cup cycle.
And the 51-year-old reckons his faith in the younger generation of Mexican players, including forwards Javier Hernandez, Giovani Dos Santos and Carlos Vela, will come to the fore at the 2014 tournament in Brazil.
"I think the future is in the hands of our young players," he added.
Reports in Mexico have suggested that Jose Manuel de la Torre, who guided Toluca to their 10th Mexican league title last month, is favourite to replace Aguirre.Manager Specials. Click here to bet.
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Mexico became the first team to progress to the final round of the World Cup's CONCACAF Qualifying Zone thanks to a 1-0 home win over Costa Rica.
Jamaica sprung a major surprise in the third round of qualifying by beating the United States 2-1 and earning sole leadership of Group A.
Brazil's wait for a first ever Olympic gold medal in football goes on after a shock 2-1 defeat to Mexico.
Mark Clattenburg will be the referee for the Olympic final between Brazil and Mexico on Saturday.