In a stunning fall from grace, former prime minister Najib Abdul Razak has announced his resignation as head of Umno and the once-ruling BN coalition.

He made the announcement during a press conference at Menara Dato Onn in Kuala Lumpur today.

His resignation came as several Umno leaders, including his number three Hishammuddin Hussein, called for leadership change after BN suffered an embarrassing defeat at last Wednesday's national polls.

"The Umno Political Bureau had convened (and) we took into consideration the current difficult situation, and seeing how Umno and BN experienced a very heavy loss (in the general election), therefore I, as president Umno and BN, make the decision to resign as Umno president and BN chairperson with immediate effect," he said today.

He, however, assured that he would not be leaving Umno.

"I wish to thank all Umno members, and I give my word that I will not leave Umno and will continue to support Umno.

"(That is) because there is no party that quite compares to Umno and BN. Insya-Allah Umno will live," said Najib, who is Pekan MP.

A downcast Najib, meanwhile, added that BN's loss in the polls would enable the coalition to work on overcoming their weaknesses and faults.

"Even though this could be more about perception than reality, but there it is, who wins in the perception war, he could control the people's support," he said.

At the conclusion of the press conference, Najib hugged Umno vice-presidents Ahmad Zahid Hamidi and Hishammuddin Hussein.