Suspended European Football Chief Michel Platini has announced to resign as UEFA President. The announcement came after he lost his appeal to the Court of Arbitration for Sport against a ban for ethics violations imposed by the sport's world body, FIFA. The arbitral panel upheld Platini's suspension but cut his sanction from six to four years.Platini called the verdict a deep injustice and said he was left with no choice but to step down from the UEFA position he has held since 2007. Platini was handed an eight year suspension by the FIFA Ethics Committee last December before being lowered to six years in February by the FIFA's Appeal Committee.