Theresa May to quit in June: British PM announces resignation as Tory leader

Theresa May on Friday announced that she is quitting as UK Conservative leader on June 7, sparking a contest for Britain's new Prime Minister. She stepped down after failing to win over her ministers with a revised strategy over her plans for the UK's withdrawal from the European Union.

It is expected that May (62) will stay on in Downing Street as caretaker Prime Minister to oversee the state visit of US President Donald Trump, planned for early June, with a new Tory leader expected to be in place by the end of July.

"Our politics may be under strain but there is so much that is good about this country. So much to be proud of. So much to be optimistic about," she said.

"It is now clear to me that it is in the best interest of the UK for a new PM to lead that effort," she said.

"I am today announcing that I will resign as Conservative leader on Friday, 7 June."

"I have agreed with the party chairman that the process for electing a new leader will begin in the following week."

The British PM was moved to tears when she ended her statement.

"Our politics may be under strain but there is so much that is good about this country, so much to be proud of," she said. "I will shortly leave the job that it has been the honour of my life to hold."

She began to cry as she said she was grateful to "serve the country I love".

(With PTI Inputs)