Ex-Australian Prime Minister Kevin Rudd will not be quitting politics despite deputy Julia Gillard's ascension to his former post.
Rudd said he would now turn his efforts to the upcoming election, staying on to assist the Labor Government's re-election efforts.
He would be contesting his electorate seat again, he said.
"As far as serving this Government, I will serve in any manner in which I can be of use," Rudd said.
"They are a good team, led by a good prime minister," he said, adding with a laugh: "I meant Julia, not me. Because I'm still prime minister for the next quarter hour."
In an emotional statement, Rudd said he had given the job his absolute best.
"I have given my absolute all," Rudd said, speaking about two hours after he stood down as Labor leader.
"I was elected by the Australian people as prime minister of this country to bring back a fair go for all Australians."
He went on to list what he considered to be his proudest accomplishments while in office, such as keeping Australia out of the global recession.
Accompanied by wife Therese and his three children, Marcus, Jessica and Nicholas, Rudd broke down in tears midway through his statement.
He was most proud of having met and apologised to the "stolen generation" at the prime minister's courtyard, where he today gave his statement, flanked by his family.
"I believe when you look back at this, these reforms will endure into the future and make Australia a fairer and better place than it would otherwise have been."
Rudd was emotional as he spoke of his government's work in lifting organ donation rates.
He was forced to stop speaking a number of times as he struggled to get words out, his voice wavering.
"As somebody who borrowed someone else's aortic valve, I feel a particular responsibility for that," he said.
"There's nothing like having a bit of somebody else in you.
"It focuses the mind, and in my case also focuses the heart."
He also thanked his Cabinet and ministers who had given "every ounce" of their energy, saying he could not have had a better team.
- NZHERALD STAFF, AAP
