Television presenter Lorraine Kelly has speculated that she thinks Nicola Sturgeon will be Salmond's successor to take on the First Minister job.
Deputy First Minister Nicola Sturgeon is the bookies' overwhelming favourite to replace Alex Salmond as the leader of the Scottish National Party.
- Nicola Sturgeon 1/4
- Humza Yousaf 8/1
- Alex Neil 10/1
- Derek Mackay 10/1
- Mike Russell 10/1
Odds from Ladbrokes.
Scotland's First Minister Alex Salmond announced the following timetable for his resignation:
- He will not accept nomination to be a candidate for leader at the SNP's Annual Conference in Perth on 13 to 15 November
- After the membership ballot he will stand down as First Minister, allowing the new leader to be elected
- He will continue to serve as Scotland's First Minister until that time
- After that he will continue to "offer to serve" as an MSP for Aberdeenshire East
Alex Salmond said he will not be "withdrawing entirely from political life" and that he will be a local candidate in the next election.
He added that he "loves the fact that I've been the longest serving First Minister of Scotland" and that his proudest moment was the "restoration of free education."
"It has been the privilege of my life to serve as First Minister," Alex Salmond said as he announced he would be stepping down following the referendum defeat.
"But as I said often enough during this referendum campaign, this is a process which is not about me or the SNP or any political party, it's much, much more important than that," the First Minister added.
ITV Border's Political Editor Peter MacMahon has been tweeting live from the press conference in which Alex Salmond announced he would be stepping down from his position at Scottish First Minister.
Alex Salmond said he would not have resigned as First Minister had Scotland voted for independence.
He added that the "last seven years as the First Minister has been the privilege of my life" but said in his opinion "the country would benefit having new leadership".
Alex Salmond said he was congratulated by David Cameron on a "hard fought campaign" but the Prime Minister refused to back Gordon Brown's timetable for a vote on a Scotland Bill by 27 March next year.
Alex Salmond announced he will stand down as Scotland's First Minister and SNP leader after voters rejected independence in the referendum.Read the full story ›
Alex Salmond ended his resignation statement in Edinburgh by saying: "As leader my team is nearly over...but the dream will never die".