He will remain as Prime Minister until a successor is in place, expected to be by the time of the Conservative Party conference in October.
A No 10 source said Mr Johnson spoke to Sir Graham Brady, chairman of the Conservative 1922 Committee, to inform him of his decision. "The Prime Minister has spoken to Graham Brady and agreed to stand down in time for a new leader to be in place by the conference in October," a No 10 source said.
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