David Cameron announced Monday that he will step down as British prime minister on Wednesday, leaving the only remaining candidate, Theresa May, to succeed him.
Cameron said he would tender his resignation to Queen Elizabeth II on Wednesday, after attending his final cabinet meeting at the House of Commons.
A "prolonged period of transition," wasn't needed, Cameron said in a statement, adding that Home Secretary May had "overwhelming support" of the Conservative Party.
Chief among the incoming prime minister's duties is completing the UK's separation from the European Union, following last month's"Brexit" vote, when 52 percent of UK voters favored leaving the EU. Cameron had backed the "remain" campaign.
Cameron's announcement came moments after Andrea Leadsom said she was dropping out of the party leadership race. Leadsom told reporters that May had 60 percent of support from Conservative lawmakers.
"[May's] ideally placed to implement Brexit on the best possible terms for the British people," Leadsom said.
May will be Britain's first female leader since the "Iron Lady," Margaret Thatcher, who served as prime minister from 1979 to 1990.