After failing to persuade MPs to support her Brexit deal, British Prime Minister on Friday (May 24, 2019) announced that she will step down as Conservative leader on June 7 next.

"It is and will always remain a matter of deep regret to me that I have not been able to deliver Brexit," May said in a statement outside her Downing Street residence.

"I will resign as leader of the Conservative and Unionist Party on Friday, June 7. The process for electing a new leadership should begin in the following week," May said.

Until the next leader is formally announced, May will continue to remain as caretaker Prime Minister.