Home Secretary Theresa May will become the UK’s next Prime Minister after her opponent Andrea Leadsom pulled out of the race, citing insufficient support.
The timing of the handover of power from David Cameron is currently being discussed, but could be within days.
Mrs May, 59, who backed staying in the EU, has been home secretary since 2010.
Mrs Leadsom, who campaigned to leave the EU, said the UK needed “strong and stable government” and that Mrs May was “ideally placed” to implement Brexit.
In a speech earlier on Monday setting out her leadership campaign platform, Mrs May – who has rejected the argument that the next leader and prime minister had to have been someone on the winning side of the EU referendum – said: “Brexit means Brexit and we’re going to make a success of it.”
In her brief statement in Westminster, Mrs Leadsom said a nine-week leadership campaign at such a “critical time” for the UK would be “highly undesirable”.
A source close to the energy minister told BBC political editor Laura Kuenssberg “the abuse has been too great” for Mrs Leadsom during the contest.