Sir Bill won the election 28-23 to secure a second term as World Rugby chairman.

Pichot had served as his vice-chairman before announcing his intention to challenge for the leadership.

The former Argentina international had called for a global realignment of the game when announcing his candidacy.

He has now confirmed that he will step away as an Argentinian representative on the World Rugby Council, as well as from the Board of the Rugby World Cup and as President of Americas Rugby.

"As of today, I have decided not to continue as a UAR representative on the World Rugby Council, nor as a member of the RWC Board, nor as President of Americas Rugby," Pichot said.

"Needless to say, I am very grateful for the responsibility and trust that has been given to me during all this time.

"The only reason I have been a part of World Rugby to this day, and which in turn is the same one that has moved me to run for President, is the conviction that World Rugby needs change.

"But my proposal, which I strongly believe in, has not been chosen, and that is why I choose to step aside.

"I cannot conceive of occupying a place just for the sake of occupying it.

"Although I will now be exclusively dedicated to family and personal issues, this does not mean that I am moving away from rugby.

"I will always contribute, from the place that touches me, to achieve a fairer and more equitable global rugby that we continue to take pride in participating in and being part of."

The Argentine Rugby Union said it "recognises and thanks Agustín Pichot for all his work and his long career as a representative of the country and the region of the Americas".

The organisation said that due to his convictions and leadership, several key changes were made to the sport.

Helping to ensure the debut of rugby sevens at the Rio 2016 Olympic Games, creating the Argentine Rugby Union Foundation to assist players with serious injuries and the sustained growth of women's rugby in Argentina and the Americas region were highlighted.

The Argentine Rugby Union also highlighted the inclusion of the country in the Rugby Championship as another achievement, with the annual competition pitting the nation against Australia, New Zealand and South Africa.

Argentina have three representatives on the World Rugby Council, with Pichot's replacement set to join Sol Iglesias and Marcelo Rodriguez.

The Council has a total of 52 members, with Uruguay joining for the first time yesterday.

The 10 Tier 1 Nations - those that compete in the Six Nations and Rugby Championship - still control 30 of the Council's 52 votes.

The Council votes in World Rugby's chairmanship election, is responsible for deciding host countries for Rugby World Cups and also governs the sport.