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British PM David Cameron to Resign by Wednesday; New Conservative Party Leader Theresa May Set to Replace Him

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Prime Minister David Cameron talks with Home Secretary Theresa May after greeting China's President, Xi Jinping, at an honour guard on October 20, 2015 in London, England. The President of the People's Republic of China, Mr Xi Jinping and his wife, Madame Peng Liyuan, are paying a State Visit to the United Kingdom as guests of The Queen. They will stay at Buckingham Palace and undertake engagements in London and Manchester. The last state visit paid by a Chinese President to the UK was Hu Jintao in 2005. (Photo by Carl Court/Getty Images)

LONDON (TheBlaze/AP) — Prime Minister David Cameron says he will step down on Wednesday, making way for Theresa May to succeed him as British leader.

Cameron says it's clear May has "the overwhelming support" of Conservative lawmakers. He says May's rival Andrea Leadsom made the right decision to withdraw from the race, ending the party leadership race.

Cameron says he will attend a final session of Prime Minister's Questions in the House of Commons on Wednesday before going to visit Queen Elizabeth II and tendering his resignation.

The queen has the formal role of appointing the new leader.

The transition of power at 10 Downing St. comes weeks after Britain officially voted to leave the European Union.

“I will do everything I can as prime minister to steady the ship over the coming weeks and months, but I do not think it would be right for me to try to be the captain that steers the country to its next destination," Cameron, who had advocated for staying in the EU, said following the historic vote.

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