David Cameron has resigned as Prime Minister after UK voters made the historic decision to leave the European Union, reports Sky News.
A tearful Mr Cameron - his wife by his side - said the country needed "fresh leadership" and is understood to have met the Queen this morning at Buckingham Palace.
The PM campaigned to remain in the EU but the public rejected his arguments and chose to leave by 51.9% to 48.1%.
Speaking outside Downing Street, the PM said he would aim to have a new leader in place by the Conservative party conference in October.
"The British people have voted to leave the European Union and their will must be respected," Mr Cameron said.
"The country requires fresh leadership to take it in this direction," he added.
"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 our country to its next destination.
"This is not a decision I've taken lightly but I do believe it's in the national interest to have a period of stability and then the new leadership required."
Mr Cameron said he had fought the "only way I know how ... head, heart and soul" to stay in the EU but that voters had chosen a different path.
With tears in his eyes, his voice cracking, the PM said: "I love this country, and I feel honoured to have served it and I will do everything I can in the future to help this great country succeed."
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