• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia
LeadershipBrexit

Theresa May to Take Over as Britain’s Prime Minister Later Today

By
Reuters
Reuters
Down Arrow Button Icon
By
Reuters
Reuters
Down Arrow Button Icon
July 13, 2016, 4:17 AM ET
Theresa May Remains The Favourite To Become Conservative Party Leader
Photograph by Jack Taylor—Getty Images

Theresa May will take over the job of British prime minister from David Cameron on Wednesday after a series of political shocks caused by Britain’s vote to leave the European Union.

May, who has been interior minister for six years and is seen by her supporters as a safe pair of hands to steer Britain through the disruptive process of leaving the EU, will become Britain’s second woman prime minister, after Margaret Thatcher.

Cameron, who led the campaign to remain in the 28-member bloc Britain had joined in 1973, announced the morning after the June 23 referendum that he would stand down, triggering a leadership contest in the ruling Conservative Party.

The contest had been due to last until September but ended unexpectedly on Monday when junior energy minister Andrea Leadsom, May’s last rival candidate after others were eliminated, abruptly pulled out.

After taking part in his last weekly session of Prime Minister’s Questions (PMQs) in parliament’s House of Commons at lunchtime, Cameron will make his way to Buckingham Palace to tender his resignation to Queen Elizabeth.

May will then enter Number 10 Downing Street as prime minister before the end of the day.

She is expected to immediately start putting together a new cabinet, a complex political balancing act in which she will try and satisfy opposing camps in her party, which was bitterly split over the EU issue.

Before the referendum, May had campaigned for Britain to remain in the EU, albeit in a low-key fashion. Since the vote, she has repeatedly said that “Brexit means Brexit” and her backers say she is determined to make the exit a success.

Despite pressure from other EU capitals to quickly start negotiating the terms of Britain’s exit, May has said she would not be rushed into triggering article 50 of the EU’s Lisbon Treaty, the formal step that will kickstart the process.

She is expected to promote women ministers to several senior roles, and Cameron’s long-serving finance minister George Osborne could lose his job, according to media reports.

PMQs is usually a rowdy event, involving combative exchanges between Cameron and the leader of the main opposition Labour Party while lawmakers from both parties boo and cheer.

But with Cameron on his last day in the job and Labour mired in a profound crisis, the atmosphere at this PMQs is likely to be very unusual.

After months of simmering discontent among Labour lawmakers with party leader Jeremy Corbyn, the conflict exploded into the open after the referendum when the vast majority of the lawmakers rejected his leadership. He is being challenged for the job by lawmaker Angela Eagle.

Corbyn has clung to his job, citing support from the party grassroots, and the 116-year-old party is now locked in a bitter power tussle that risks destroying it.

 

The shocks of the referendum result, Cameron’s resignation, a series of other surprise moves in the Conservative Party and the crisis in Labour, have plunged Britain into its deepest political crisis in modern times.

Financial markets, which had been extremely volatile since the referendum, reacted positively to news on Monday that May would become prime minister earlier than expected, with sterling making strong gains against the dollar and the euro.

About the Author
By Reuters
See full bioRight Arrow Button Icon

Latest in Leadership

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • Future 50
  • World’s Most Admired Companies
  • See All Rankings
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Leadership

Boss has lunch with her workers outside
Successcompany culture
A $24 billion Dutch lender is cutting its workforce—and to get the remaining staff on board, the CEO is having sandwiches with them
By Emma BurleighApril 15, 2026
15 minutes ago
Sal Khan
SuccessEducation
This CEO has teamed up with Google, Microsoft, and McKinsey to build an AI degree that could rival Harvard—and it will only cost $10,000 to attend
By Preston ForeApril 15, 2026
28 minutes ago
Why insurance giant Travelers’ CTO is placing fewer, bigger bets on AI
NewslettersCIO Intelligence
Why insurance giant Travelers’ CTO is placing fewer, bigger bets on AI
By John KellApril 15, 2026
49 minutes ago
horowitz
AIdisruption
a16z’s Ben Horowitz sees ‘AI anxiety’ consuming Silicon Valley founders. Workers’ fear of something else is killing adoption
By Nick LichtenbergApril 15, 2026
49 minutes ago
Jeff Bezos pledged $10 billion for climate change. With the 2030 clock ticking, his wife, Lauren Sánchez Bezos, is leading the charge to spend it
EnvironmentJeff Bezos
Jeff Bezos pledged $10 billion for climate change. With the 2030 clock ticking, his wife, Lauren Sánchez Bezos, is leading the charge to spend it
By Sydney LakeApril 15, 2026
1 hour ago
org
Future of WorkLeadership
The org chart isn’t ready: How AI exposed the hidden crisis inside the American corporation
By Nick LichtenbergApril 15, 2026
2 hours ago

Most Popular

Billionaire philanthropist MacKenzie Scott has donated again—a week after gifting millions to a college, she's just given $70 million to Meals on Wheels America
Success
Billionaire philanthropist MacKenzie Scott has donated again—a week after gifting millions to a college, she's just given $70 million to Meals on Wheels America
By Fortune EditorsApril 13, 2026
2 days ago
Retirees are facing a $345,000 bill they never saw coming — and most aren't prepared
Commentary
Retirees are facing a $345,000 bill they never saw coming — and most aren't prepared
By Fortune EditorsApril 14, 2026
1 day ago
He was coding at 12 like Elon Musk and became one of Google’s youngest-ever CMOs—but now says Gen Z is better off ice skating than learning to code
Success
He was coding at 12 like Elon Musk and became one of Google’s youngest-ever CMOs—but now says Gen Z is better off ice skating than learning to code
By Fortune EditorsApril 14, 2026
1 day ago
Palantir CEO says working at his $316 billion software company is better than a degree from Harvard or Yale: ‘No one cares about the other stuff’
Success
Palantir CEO says working at his $316 billion software company is better than a degree from Harvard or Yale: ‘No one cares about the other stuff’
By Fortune EditorsApril 14, 2026
1 day ago
Anthropic is facing a wave of user backlash over reports of performance issues with its Claude AI chatbot
AI
Anthropic is facing a wave of user backlash over reports of performance issues with its Claude AI chatbot
By Fortune EditorsApril 14, 2026
1 day ago
Warren Buffett’s first tax return showed $7 owed to the IRS. The then paperboy and former Berkshire Hathaway CEO is now worth $143 billion
Success
Warren Buffett’s first tax return showed $7 owed to the IRS. The then paperboy and former Berkshire Hathaway CEO is now worth $143 billion
By Fortune EditorsApril 14, 2026
1 day ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.