Boris Johnson has announced his resignation as Conservative leader and said the reason he fought so hard to remain in the post was a sense of duty.
However, Johnson said it was now "clearly the will" of the Conservative Party that there should be a new party head. He said the "herd instinct is powerful" in reference to the pressure placed upon him to stand down by fellow Conservatives.
"I want you to know how sad I am to be giving up the best job in the world," Johnson said. "But them's the breaks."
Johnson said he had appointed a new Cabinet he will remain as prime minister until a new party chief is chosen. He promised to support the new leader of the party and said the government of the country would be carried on during the handover process.
"Being prime minister is an education in itself," Johnson said. "I've traveled to every part of UK, and I've found so many people possessed of such boundless British originality and so willing to tackle old problems in new ways."
"Even if things can sometimes seem dark now, our future together is golden."
Opposition leader threatens no-confidence vote
The leader of the UK opposition Labour Party has said that, if the Conservative Party does not get rid of Johnson as prime minister now, it will call a vote of no-confidence.
"He needs to go completely, none of this nonsense about clinging on for a few months. He's inflicted lies, fraud and chaos in the country," said Labour leader Keir Starmer.
"He needs to go. He can't cling on in this way. His own party have finally concluded that he is unfit to be prime minister. They can't now inflict him on the country for the next few months."
"If they don't get rid of him then Labour will step up in the national interest and bring a vote of no-confidence."
New caretaker cabinet chosen — report
Downing Street has appointed a new Cabinet to take over the business of government until a new Conservative Party leader is chosen, according to the BBC.
It's expected that a Tory leadership race will take place in the coming months, with the victor to replace Johnson in October.
Several senior members of Johnson's Conservative Party say he should be replaced immediately rather than be allowed to remain as a caretaker prime minister until a new party leader is chosen.
Tory members want defense minister as PM — survey
According to a survey by opinion pollsters YouGov, Secretary of State for Defence Ben Wallace would be Conservative Party members' favorite to replace Boris Johnson.
It will be up to party members to decide between the final candidates after they are whittled down to the last two in voting by Conservative lawmakers.
Wallace has called on Johnson to quit but said he would stay in his role leading the UK defense ministry to protect national security.
A former soldier, he was security minister from 2016 until taking on his current role three years later. Wallace has won plaudits after his department evacuated British nationals and allies from Afghanistan last year, and for his advocacy of sending weapons to Ukraine.
Other possible contenders in the poll included Foreign Secretary Liz Truss, departed finance minister Rishi Sunak, and Jeremy Hunt, who faced Johnson in the last showdown decided by party members.
PM speaks to queen in advance
Boris Johnson has reportedly spoken to Queen Elizabeth as a courtesy ahead of an impending announcement about his plans to stand down, according to a report from the British broadcaster ITV.
EU Brexit chair Verhofstadt welcomes end of era
The European Parliament's Brexit coordinator Guy Verhofstadt has welcomed the end of Johnson's tenure. The former Belgian prime minister compared the British prime minister to former US President Donald Trump, and said he hoped UK-EU relations could improve.
"Boris Johnson's reign ends in disgrace, just like his friend Donald Trump," Verhofstadt tweeted. "The end of an era of transatlantic populism? Let's hope so. EU - UK relations suffered hugely with Johnson's choice of Brexit. Things can only get better!"
Johnson emerged as a figurehead of Brexit, and disputes with the EU have bubbled in the background throughout his tenure.