The head of Mexico's ruling party has resigned following the group's poor showing in governorship elections earlier this month.

The Institutional Revolutionary Party is better known as the PRI, for its initials. Manlio Fabio Beltrones was PRI party president until he resigned Monday.

Beltrones had promised to win most of the 12 governorships up for grabs in elections earlier this month. Stung by corruption scandals and violence, the PRI won only five races.

Beltrones said he was resigning in order to pave the way for "the transformations our party urgently needs."