Hours after news reports claimed that an emergency meeting was held at Buckingham Palace, light has been shed on the circumstances surrounding the last-minute ordeal.

In a statement made by Queen Elizabeth II's private secretary early Thursday morning, it was announced that Prince Philip "has decided that he will no longer carry out public engagements from the autumn of this year. 
In taking this decision, The Duke has the full support of The Queen."
The Duke of Edinburgh, 95, "will attend previously scheduled engagements between now and August, both individually and accompanying The Queen," the statement continued. 
"Thereafter, The Duke will not be accepting new invitations for visits and engagements, although he may still choose to attend certain public events from time to time."
"The Duke of Edinburgh is Patron, President or a member of over 780 organizations, with which he will continue to be associated, although he will no longer play an active role by attending engagements," the palace said. 
"Her Majesty will continue to carry out a full program of official engagements with the support of members of the Royal Family."

Source: E!Online