Mexico City: Javier Aguirre stepped down on Wednesday as Mexico coach, three days after the national team was knocked out of the World Cup in a 3-1 loss to Argentina in the round of 16.
It marked the fifth straight time that Mexico has been eliminated at this stage.
Aguirre made the announcement at a packed news conference in Mexico City. Aguirre was appointed 15 months ago to his second stint at Mexico coach. He also coached the team in the 2002 World Cup, but was replaced after Mexico was eliminated by the United States.
Aguirre is Mexico's fourth coach in four years and the fifth since Argentine Ricardo La Volpe was released after the 2006 World Cup.
Several reports suggest Aguirre is one of highest paid national team coaches with an annual salary of about $4 million. Only Italy coach Marcelo Lippi and England coach Fabio Capello are believed to earn more.
"Everything I did, I did thinking of the well-being of Mexico," Aguirre said.
He said the next coach should be retained for the entire four-year World Cup cycle, which will end with the 2014 tournament in Brazil.
Aguirre said he had faith in a younger generation of Mexican players who will be the core of the team in the next World Cup. They include forwards Javier Hernandez, Giovani Dos Santos and Carlos Vela.
"I think the future is in the hands of our young players," Aguirre said.
He suggested he might be out of work for a while and said he did not know where he could coach next. He took over the Mexico job just a weeks after being fired by Spanish club Atletico de Madrid.
Mexico played more warm-up games than any team ahead of the World Cup, but opened with a disappointing 1-1 draw with South Africa. Mexico defeated France 2-0 and then lost 1-0 Uruguay, meanig it fell behind the South Americans to second place in Group A. This forced Mexico to face Group B winner, Argentina.
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