Boris Johnson has resigned as the leader of the Conservative Party.
BBC News reports that Johnson will resign eventually as UK Prime Minister, but that he will continue to serve as PM until the autumn, when a new Tory leader will be chosen.
In his leaving address outside of number 10 Downing Street, Johnson said: "I want you to know how sad I am to be giving up the best job in the world... But them's the breaks."
"I've agreed with Sir Graham Brady, the chairman of our backbench MPs, that the process of choosing that new leader should begin now and the timetable will be announced next week," Johnson said. "And I've today appointed a Cabinet to serve, as I will, until a new leader is in place."
He also thanked his wife Carrie and their children for their support.
"Above all, I want to thank you, the British public, for the immense privilege you have given me," he added.
Johnson also sent a message of support to the people of Ukraine and vowed that the UK will continue to support their fight against Russia.
He concluded his address to the public by saying: "Being prime minister is an education in itself - I've traveled to every part of UK and I've found so many people possessed of such boundless British originality and so willing to tackle old problems in new ways.
"Even if things can sometimes seem dark now, our future together is golden."
The 58-year-old's resignation comes after a wake of resignations in the Conservative party.
Earlier this week, Johnson's credibility was hit following the resignation of two of his top cabinet members, former health secretary Sajid Javid and chancellor Rishi Sunak.
Per The Guardian, both emphasized a lack of leadership in Downing Street, with Javid writing: "We may not have always been popular but we have been competent in acting in the national interest. Sadly, in the current circumstances, the public are concluding that we are now neither."
He added: "The vote of confidence last month showed that a large number of our colleagues agree. It was a moment for humility, grip and new direction. I regret to say, however, that it is clear to me that this situation will not change under your leadership – and you have therefore lost my confidence too."
In his resignation letter, Sunak wrote: "The public rightly expect government to be conducted properly, competently and seriously. I recognise this may be my last ministerial job, but I believe these standards are worth fighting for and that is why I am resigning."
Sunak added: "In preparation for our proposed joint speech on the economy next week, it has become clear to me that our approaches are fundamentally too different. I am sad to be leaving Government but I have reluctantly come to the conclusion that we cannot continue like this."
What followed was a slew of resignations from Conservative ministers, with BBC News reporting that more than resignations from the government and party exceeded 50 on Thursday (July 7).
Johnson's newly appointed chancellor Nadhim Zahawi then also made a public call for the PM to resign, writing: "My number one priority has and always will be this great country. When asked to become Chancellor, I did it out of loyalty. Not to a man, but loyalty to this country and all it has given me."
Zahawi added: "Yesterday, I made clear to the prime minister alongside my colleagues in Number 10 that there was only one direction where this was going, and that he should leave with dignity. Out of respect, and in the hopes that he would listen to an old friend of 30 years, I kept this counsel private.
"I am heartbroken that he hasn’t listened and that he is now undermining the incredible achievements of this Government at this late hour. No one will forget getting Brexit done, keeping a dangerous antisemite out of No10, our handling of COVID and our support for Ukraine in its hour of need.
"But the country deserves a government that is not only stable, but which acts with integrity."
The Tory rebellion kicked off on Tuesday after Downing Street confirmed that Johnson was aware of allegations of sexual misconduct against the former Deputy Chief Whip Chris Pincher in 2019 - but decided to appoint him to the ministerial position in February regardless.
Pincher resigned from the post last week following allegations that he groped two men at a private members' club in London.
Speaking to reporters on Wednesday, Johnson apologized for appointing the disgraced politician.
Per NPR, he said: "I think it was a mistake and I apologize for it. In hindsight, it was the wrong thing to do.
"I apologize to everybody who has been badly affected by it. I want to make absolutely clear that there’s no place in this government for anybody who is predatory or who abuses their position of power."
Minutes later, Javid and Sunak announced their respective resignations.
Johnson's resignation also comes one month after he survived a vote of no confidence from his party - clinging on with a majority vote of 211 to 148.
The former Prime Minister has faced increasing scrutiny in recent months, after photos of him were leaked to the press showing Johnson attending events with staff during periods of strict lockdown measures.
The scandal - known as "Partygate" - saw Johnson issue an apology to the public, saying: "I want to apologize. […] With hindsight, I should have sent everyone back inside."
It also led to him being issued with a fixed penalty notice for attending lockdown parties - thus, becoming the first sitting UK Prime Minister to have ever officially broken the law, per Indy100.