Agustín Pichot is to resign from the World Rugby Council following his narrow defeat to Bill Beaumont for the chairmanship of the sport's governing body, he announced on Wednesday.
The 45-year-old former Pumas captain lost by just five votes (28-23) to incumbent Beaumont despite entering the race relatively late.
Pichot said he would also be resigning from all of his other administrative roles in the sport.
"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 in a statement on the Argentina federation (UAR) website.
Pichot, who retired from the sport 11 years ago and had been World Rugby vice-chairman since 2016, hinted at trying for the top position again in the future.
"My proposal, which I fervently believe in, has not been chosen, and that is why I choose to step aside," he said.
"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 matters, this does not mean that I am moving away from rugby. I will always contribute, from the place that touches me."
Former scrum-half Pichot helped make Sevens an Olympic sport and also elevated Argentina into the Rugby Championship and the Jaguares into Super Rugby.