He refused to give an exact time table for his departure, but said that he wanted a new leader to be in place by the start of the Tory Party conference in October.
In his statement, delivered outside the front door of 10 Downing Street, he said that “the British people have voted to leave the EU and their will must be respected… the will of the British people is an instruction which must be delivered.”
“There can be no doubt about the result.”
He reassured markets and investors, saying that Britain’s economy was strong and also pledged that there would be no sudden change in circumstance either for Britons who live abroad or Europeans who live in the UK.
Read more: CNN