Victorian Liberal Party president Michael Kroger has quit following the party's disastrous result in last week's state election.
Mr Kroger announced his decision at a meeting of the party's state assembly Friday evening.
Senior party figures, including former Victorian premier Jeff Kennett, had called for his resignation.
Mr Kroger had already declared his intention not to seek another term as president, but is leaving prematurely after the Liberal Party's disastrous defeat at the polls.
'Time to go'
In a statement to members tonight, Mr Kroger said "upon reading various newspaper articles today I think that when your own supporters are basically telling you it is time to go, then it is probably time to go".
"At the very least it will allow an interim president roughly six months to continue preparations for the forthcoming federal election.
"Accordingly I have advised the meeting of State Assembly tonight that I am standing down as president at the end of the meeting."
"These are difficult times for the Liberal Party," he said.
"The future of our country is at stake as the threat looms of a Shorten government which would be Australia's worst nightmare.
"The Victorian Division needs unity, strength and a renewed sense of purpose and given the public bloodletting since last Saturday, I think it is better that the party move forward now rather than wait until the end of March."
He said the new president would have his full support.
"The president cannot control everything in the party, even if they wish to," Mr Kroger said.
"Many things have happened during my presidency about which I am unhappy, but this is the nature of politics.
"Ultimately, however, the buck stops at the top."
Labor's landslide victory in the election is set to deliver them a 53-seat majority in Victoria's 88-seat Lower House.
The Liberal Party lost several seats in Melbourne's east, and on Friday night was still at risk of losing the formerly safe blue-ribbon seats of Hawthorn and Caulfield.
'Starting the rebuilding process'
Mr Kennett said Mr Kroger had "put the interests of his party first".
"The party has indicated within a week of the defeat we had last weekend that we are starting the rebuilding process," he said.
"I take no joy in the fact that people who have served the party well ultimately have to resign under the circumstances that exist, but yes it was necessary, but Michael has recognised that, and for that alone I thank him."
Mr Kroger had been a divisive character in the party for years.
His presidency was challenged by some, but ultimately he managed the strong support of the membership during this year's ballots.
Mr Kroger was regularly criticised because he allowed accused branch-stackers to run amok with new recruits — something that angered traditional members of the party.
