British Home Secretary Theresa May has been confirmed as the new leader of the Conservative Party with "immediate effect" and all set to succeed David Cameroon as Prime Minister of Britain on Wednesday.
Graham Brady, the chairman of the Conservative 1922 committee confirmed that May is now the new leader of the party "with immediate effect".
The announcement came after outgoing Prime Minister David Cameroon confirmed that May will be his successor as leader of the Conservative Party, and decided to step down to give way for her to become the next British Prime Minister.
Cameron will offer his resignation to Queen Elizabeth II at Buckingham Palace on Wednesday.
In a brief statement Cameron said Leadsom had made "absolutely the right decision" to stand aside and that he was "delighted" May, the Home Secretary, was to succeed him.
He said a "prolonged period of transition" was not necessary.
"So tomorrow (Tuesday) I will chair my last cabinet meeting. On Wednesday I will attend the House of Commons for Prime Minister's Questions. After that I expect to go to the Palace and offer my resignation," BBC quoted him as saying.
May will be be the second female British Prime Minister.
Conservative Margaret Thatcher was Prime Minister of Britain from 1979 to 1990.
Cameron announced his resignation last month, after Britain voted to leave the European Union.