Chris Maduewesi
Member
Moyes was sacked by United on Tuesday after a poor campaign that has left the club seventh on the league table,which has seen them miss out on Champions League qualification next year.
The 50-year old acknowledged that the task of managing United is enormous and wished the club well in the future.
In a statement,Moyes said: "To have been appointed as manager of Manchester United was and remains something of which I will always be incredibly proud," said the Scot.
"I remain grateful to Sir Alex for believing in my ability and giving me the chance to manage Manchester United."
Moyes said that it was always going to be a "significant challenge" especially following in the footsteps of Ferguson who amassed a lot of trophies at the club.
"The scale of the manager's job at United is immense, but I have never stepped away from hard work.
"The same applies to my coaching staff. I thank them for their dedication and loyalty throughout the last season."
Moyes admitted that performances had not been "what Manchester United and its fans are used to or expect", adding: "I both understand and share their frustration."
"I have always believed that a manager never stops learning during his career and I know I will take invaluable experience from my time as United's manager."