LONDON -- Prince Edward and his wife Sophie, who both were criticized for their behavior as private sector executives, announced Saturday they will quit their jobs to spend more time fulfilling their royal responsibilities, including Queen Elizabeth II's Golden Jubilee celebrations.

"It is quite obvious that in this year, the Golden Jubilee, we are required more than ever to support the queen and to help my family shoulder some of the increasing responsibilities and workload into the future," said Edward, the queen's youngest son and the Earl of Wessex.

Edward, 37, said running his own television production company had been "enormous fun, immensely rewarding and full of surprises."

"Yet I always knew in the back of my mind that one day things would have to change," he said in a speech in southern England.