British Prime Minister Theresa May

May to step down in June

British Prime Minister, Theresa May has announced that she will step down as UK Conservative Party leader on 7 June.

She will stay on as a caretaker Prime Minister until the new leader is chosen, a process expected to take several weeks. The new Conservative leader would then become prime minister without the need for a general election.

In a televised statement this morning, May said that she would be leaving a job that it has been "the honor of my life to hold."

May has bowed to relentless pressure from her party to quit over her failure to take Britain out of the European Union on schedule.

AP reports that her departure will trigger a party leadership contest in which any Conservative lawmaker can run. The early front-runner is Boris Johnson, a former foreign secretary and strong champion of Brexit.

Britain is currently due to leave the EU on Oct. 31, but Parliament has yet to approve the terms.

Pressure on May to quit over her failure to get Parliament's approval for a Brexit deal reached critical point this week as House of Commons Leader, Andrea Leadsom quit and several Cabinet colleagues expressed doubts about her Brexit bill.

With her authority draining away by the hour, May on Thursday delayed plans to publish the EU withdrawal bill; her fourth attempt to secure Parliament's backing for her Brexit blueprint.

Theresa May became prime minister in July 2016.