John Toshack has resigned as Wales manager. The 61-year-old announced at a press conference on Thursday afternoon he was stepping down from the post he has held since 2004 with immediate effect. Toshack's position had been the subject of considerable scrutiny since Wales were beaten in their opening Euro 2012 qualifier in Montenegro last Friday.

"Wales are still very much in this group, and now the decision has been made hopefully they'll be able to get some positive results in the next two games," Toshack said.

"If the results do go against us, I think I would have preferred that to happen with me still in charge."

The Football Association of Wales confirmed the decision for Toshack to step down had been reached by mutual agreement.

Toshack said he had been prepared to continue until after next month's qualifiers against Switzerland and Bulgaria, when he revealed both parties had agreed to review the situation.

Toshack said: "I thought after three matches of this group we would review everything.

"Even after the disappointment of the game in Montenegro that was still the way I felt.

"But we have come to the agreement that this might be better for everyone concerned."

Toshack admitted he had begun to grow concerned after a friendly loss in Croatia in May, when his squad was decimated by a number of unavailability's and a raft of withdrawals.

He added: "I was disappointed by one or two things.

"Four were involved in the play-off final but some of the others I felt could have been there.

"I spoke to the president about reviewing it after the first few games but it is generally felt a change would be in the best interests of everyone."