Theresa May, the United Kingdom Prime Minister (PM) has announced that she will be stepping down from the position come July 7.
This decision means that she will quit as Conservative leader, paving the way for a contest to decide a new prime minister.
May in an emotional statement said she had done her best to deliver Brexit and it was a matter of “deep regret” that she had been unable to do so.
She, therefore, said she will continue to serve as PM while a Conservative leadership contest takes place.
A statement released by the party said it hoped a new leader could be in place by the end of July.
According to the party, the likely timetable for the party leadership contest was that nominations would close during the week beginning 10 June, with the process of whittling down candidates to the final two to conclude by the end of the month.
Those names would then be put to a vote of party members before the end of July.
May, who noted that she had done “everything I can” to convince MPs to support the withdrawal deal she had negotiated with the European Union said it was now in the “best interests of the country for a new prime minister to lead that effort”.
She pointed that in order to deliver Brexit, her successor would have to build agreement in Parliament.
“Such a consensus can only be reached if those on all sides of the debate are willing to compromise,” she said.
“I will shortly leave the job that it has been the honour of my life to hold. The second female prime minister, but certainly not the last.
May, who had faced a backlash from her MPs after announcing her latest Brexit plan earlier this week, which included concessions aimed at attracting cross-party support said she is leaving the office with no ill will, but with enormous and enduring gratitude to have had the opportunity to serve the country.
— UK Prime Minister (@10DowningStreet) May 24, 2019