(CNN) Iowa Democratic Party Chairman Troy Price resigned on Wednesday, according to a statement from the party.

"The fact is that Democrats deserved better than what happened on caucus night," he wrote in a letter to members of the State Central Committee. "As chair of this party, I am deeply sorry for what happened and bear the responsibility for any failures on behalf of the Iowa Democratic Party.

"While it is my desire to stay in this role and see this process through to completion, I do believe it is time for the Iowa Democratic Party to begin looking forward, and my presence in my current role makes that more difficult."

His resignation comes more than a week after the Iowa caucuses , marred by faulty technology and arcane rules, descended into chaos.

The state's treasured first-in-the-nation contest fell into turmoil as the reporting methods for the nearly 1,700 precincts broke down, halting the emergence of a clear winner and forcing a slow rollout of partial results. It took the party days to release the full count of votes and multiple campaigns highlighted errors in those counts after they were released, prompting the state party to agree to a partial recanvass of the results.

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