Egypt's President Hosni Mubarak waves during the opening session of the annual conference of the National Democratic Party (NDP) in Cairo in this October 31, 2009 file photo.[Photo/Agencies]

CAIRO - Egypt's President Hosni Mubarak had stepped down as the military took charge of the country, Egypt's Vice President Omar Suleiman said on Friday afternoon.

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"The president has decided to step down and hand the military the responsibility to take over rule in Egypt," said Vice President Omar Suleiman.

The Higher Military Council, which has taken over control from Hosni Mubarak, will sack the cabinet and suspend both houses of parliament and rule with the head of the supreme constitutional court, AL Arabia TV reported on Friday.

Tens of thousands of protesters chanted "the people have brought down the regime," as Suleiman announced the president's resignation.

Mubarak's step came only one day after he announced that he is handing power to the vice president without stepping down on Thursday night.

A military airport source told Xinhua earlier that Mubarak and his family had left for the resort city of Sharm el-Sheikh, accompanied by Lieutenant General Sami Hafez Annan, chief of staff of the Egyptian Army.