Ukip deputy chairman Diane James has won the contest to replace Nigel Farage as the party’s leader.
The MEP, who was the frontrunner in the contest, took the top job with 8,451 votes.
During the leadership battle she promised to have a “laser focus” on the Brexit negotiations but refused to set out any policies, insisting she did not want to make “policy on the hoof”.
Mr Farage was given a hero’s welcome as he spoke at his final Ukip conference as leader in front of hundreds of party activists in Bournemouth.
He revealed that while he is stepping down as leader, he will take his political message on the road to Europe and America.
He said: “Today closes the chapter of what has been a very extraordinary few years. I honestly, looking back, could never really have dreamt that we would have achieved what we have.
“I have put absolutely all of me into this. I literally couldn’t have worked any harder or couldn’t have been more determined. In a sense, I guess it has been my life’s work to try to help get this party to this point.
“I frankly don’t think I could do any more. I think, folks, I’ve done my bit.”
As the crowd whooped and cheered, he said he will remain in politics touring Europe encouraging others to follow Britain out of the European Union.