The new prime minister will be revealed on 5 September after the Conservative party announced the leadership race rules.
Many Tory MPs wanted Boris Johnson forced out more quickly but grassroots Conservatives appeared to fight off an attempt to remove him before then.
Candidates in the race to be the next leader will be whittled down to two by several rounds of voting among MPs before the vote goes to the Tory membership.
The first vote by MPs will take place on Wednesday, Sir Graham Brady, chair of the 1922 Committee of backbench Tories said after the group met on Monday evening.
The list of leadership candidates reached 11 earlier in the day after Sajid Javid, the former health secretary and chancellor, officially launched his campaign. Priti Patel is reportedly planning to enter the race.
All besides former chancellor Rishi Sunak have offered tax cuts, drawing opposition from prominent figures in finance including the governor of the Bank of England.
