Theresa May has announced she will quit as Prime Minister on June 7.
In an emotional Downing Street statement, Mrs May said she regretted she had not been able to deliver Brexit.
Fighting back tears, she said felt it was time to stand down as PM and leader of the Conservative Party.
Defiant Mrs May stressed she had done her best to deliver the result of the 2016 EU referendum.
She added: "Ever since I first stepped through the door I have striven to make the UK work not just for a privileged few but for everyone and to honour the result of the referendum."
"I negotiated the terms of our exit."
"I have done everything I can to convince MPs to back that deal.
"Sadly I have not been able to do so.
"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 says.
"I am today announcing that I will resign as Conservative leader on Friday June 7.
"I have agreed with the party chairman that the process for electing a new leader will begin in the following week.
"It is a matter of deep regret that I have not been able to deliver Brexit.
"My successor will have to find a consensus.
"Consensus will only be possible if those on both sides of the debate 'compromise'."
She said she was proud of the work she had done.
Mrs May returned to Downing Street from her constituency this morning to meet Sir Graham Brady, chair of the 1922 Committee, with the latest Brexit plan in turmoil and her Cabinet in revolt.
But one of her closest allies paid tribute to her leadership.
Her former de facto deputy Damian Green said a difficult hand to play was made impossible by losing her majority in the snap general election.
He said: "Suddenly and unexpectedly becoming Prime Minister after the seismic shock of the Brexit referendum meant she was dealt an extremely difficult hand to play."
