Paul Nuttall has resigned as UKIP leader after last night's disastrous election result.
UKIP emerged without a seat and with a much-diminished vote share, while former party leader Nigel Farage has hinted at a return to politics.
Nuttall himself failed in his bid to be elected as the MP for Boston and Skegness, losing out to the Conservatives.
The Liverpudlian has said that, in these circumstances, it is right that he stand aside.
This, he said, will allow UKIP to have a new leader in place by the time of its party conference. "This will be an exciting time for our party," he told his audience.
Some may be sceptical about this claim, given UKIP has endured a torrid few months following Farage's resignation in the wake of the Brexit vote.
The party was plunged into crisis when his successor Diane James quit after just 18 days, and then was the subject of unwelcome headlines when two MEPs got into a brawl in Strasbourg. More recently UKIP suffered near-wipeout in the local election and Nuttall himself lost a by-election in Stoke, a city dubbed Britain's 'Brexit capital.'
However Nuttall has sounded a message of defiance this morning, saying UKIP continue to have a vital role as the "guard dogs of Brexit."
"We may have won the war," Nuttall said. "We now have to secure peace."