Wayne Rooney's fourth-minute penalty proved a false dawn as Ragnar Sigurdsson and Kolbeinn Sigthorsson capitalised on errors to secure Iceland a well-deserved 2-1 victory.

It was a result that brought an end to Hodgson's four-year reign at the helm, with the manager announcing his resignation in the post-match press conference.

The 68-year-old took no questions from reporters, instead only reading the statement composed in the dressing room after the final whistle.

The coaching staff of Gary Neville and Ray Lewington are following Hodgson out, and the pair sat with the outgoing manager in the press conference.

"I’d have loved to stay, but we are in the results business."

Hodgson's resignation speech in full. #EURO2016 #ENGhttps://t.co/rWfKdvoI1s

— UEFA EURO 2024 (@EURO2024) June 27, 2016

Before coming to speak to the media the trio went in and spoke to the players, as well as telling Football Association chief executive Martin Glenn and technical director Dan Ashworth of their decision in the dressing room.

"I'm extremely disappointed, of course, about tonight's result and ultimately our exit from the competition," he said.

"We haven't progressed as far as I thought we were capable of, and that's obviously not acceptable.

"I am actually proud of the work that my coaching staff and I have achieved in our time at the helm with England.

"The transition from a squad whose average was 30 to now being the youngest in the tournament is both remarkable and exciting for the future of English football.

"I would have loved to stay on for another two years, however I am pragmatic and know that 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've been fantastic and they have done everything that has been asked of them.

"When I arrived I was told that players didn't turn up to play for their country or that they pull out at the last minute. But I have not seen any of that.

"These players love to play for their country and their commitment has been unquestioned.

"Ray and Gary have asked me to speak on their behalf. They arrived with me as part of my coaching team and they'll leave with me.

"I'd like to thank them for their dedicated support and for the major part they've played in our team preparation.

"Finally I'd like to thank all the support staff, players, the FA and of course the fans.

"It's been a fantastic journey these four years and it's one I'll look back on or remember with pride.

"Finally I'd like to thank you, the media, for the support that you've given me over the four years.

"I am sorry it's had to end this way with another exit from the tournament but these things happen and all I can do is wish everybody all the very best and hope that you will still be able to see an England team in a final of a major tournament fairly soon.

"We've been unable to deliver. Thank you very much."