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United Kingdom Prime Minister Boris Johnson announced his resignation as the Conservative Party's leader on Thursday, 7 July.
"I will serve as the prime minister until a new leader is in place," Johnson said in his address.
This comes amid calls for the appointment of an interim PM growing stronger within Johnson's political party.
Shortly before resigning, the leader appointed a full replacement Cabinet, with James Cleverly's appointment as the new Education Secretary being among the latest.
The departure comes after a spate of resignations from the Johnson-led British Cabinet, citing his leadership as a reason
Johnson's resignation has triggered a leadership election for a new Tory leader who will go on to become the new prime minister
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Greg Clark is the new Levelling Up, Housing and Communities Secretary, and has replaced Michael Gove, who was fired last night for asking the PM to resign.
Kit Malthouse has reportedly been appointed Chancellor for the Duchy of Lancaster.
James Cleverly has been appointed as the new Education Secretary, replacing Michelle Donelan, who resigned today after only being appointed on Tuesday evening due to Nadhim Zahawi promotion to the post of chancellor.
"It is clearly the will of the parliamentary party that there should be a new leader... I have today appointed a cabinet to serve, as I will, until a new leader is in place," he said in his address.
He added, "The timetable for electing the new leader of the Conservative Party - and therefore the new PM - will be announced next week."
Here are some key highlights from his speech on Thursday:
Saying that he tried to persuade colleagues that changing leader would be “eccentric”, he admitted to failing in persuading them.
"At Westminster, the herd instinct is powerful, and when it moves, it moves."
"My friends in politics, no one is remotely indispensable."
"We would like to hope that some day in Great Britain more professional people who can make decisions through dialogue will come to power. But at the moment there is little hope for that."
"Even if things can sometimes seem dark now, our future together is golden."
Speaking on Ukraine, he added, "We in the UK will continue to back your fight for freedom, for as long as it takes."
Johnson has indicated that the expected timetable for his departure, and selection of successor, will be set on Monday by a committee of senior Conservative lawmakers.
Foreign Secretary Liz Truss reacted to Johnson's exit, saying that he made the right decision.
She appealed for calmness and unity in the party.
In a statement published minutes before PM's announcement, Home Secretary Priti Patel said she is concentrating on the job at hand and will continue to lead the Great Office of the State.
Prime Minister Boris Johnson waves after reading a statement outside 10 Downing Street, London, formally resigning as Conservative Party leader, in London, Thursday, July 7, 2022. Johnson said Thursday he will remain as British prime minister while a leadership contest is held to choose his successor.
Prime Minister Boris Johnson reads a statement outside 10 Downing Street, London, formally resigning as Conservative Party leader, in London, Thursday, July 7, 2022. Johnson said Thursday he will remain as British prime minister while a leadership contest is held to choose his successor.
Conservative MP Chris Loder has joined the chorus that Johnson should not be allowed to stay as PM till autumn.
The European Union's Brexit negotiator Michel Barnier took to Twitter to express that his resignation "opens a new page in relations with the UK."