Queen Elizabeth has confirmed Theresa May as Britain's prime minister and invited her to form a new government, after the monarch accepted the resignation Wednesday of David Cameron at Buckingham Palace.
Cameron also gave all but a guarantee to European Union citizens living in Britain that they would not be forced to leave the country when Britain leaves the bloc. Earlier this month, Johnson pulled out of Conservative leadership race.
Much attention will now focus on what roles, if any, May hands prominent Brexit campaigners Andrea Leadsom, Boris Johnson, Michael Gove, Chris Grayling and Liam Fox in her new cabinet, amid speculation that one of those five could be given a new post of Brexit minister. Johnson led the campaign to drop out of the EU.
She stressed her personal commitment to the second part of her party's official name Conservative and Unionist, promising to maintain the "precious, precious bond" between the different nations of the United Kingdom at a time when the Scottish Government is making preparations for a possible second independence referendum. The first was Mrs Margaret Thatcher who was popularly known as the "Iron Lady" because of the tough stance she took against striking mine workers.
Britain's new Prime Minister Theresa May arrived at Downing Street on Wednesday after gaining consent from Queen Elizabeth II.
Before entering the building with her husband Philip, she said, "Together we will build a better Britain".
"When we pass new laws, we'll listen not to the mighty, but to you".
She said she wanted to create "a country that works for everyone".
She is expected to announce the make up of her new cabinet later, with the the key roles of chancellor, home secretary and foreign secretary set to be filled first.
Hammond said Thursday that there will be no emergency budget to deal with the economic fallout from Brexit.
May is something of an unknown quantity internationally, but European Council president Donald Tusk said he looked forward to a "fruitful working relationship" with her.
He then went to Buckingham Palace to tender his resignation to the Queen, who will then formally appoint Theresa May as his replacement.
"It has not been an easy journey, and of course we have not got every decision right, but I do believe that today our country is much stronger". Amid the jokes and tributes in his farewell question period, he fielded questions about eye surgery and a health scandal, along with criticism about the rise in food banks and his part in calling the vote that ended up with Brexit - a Britain departure from the 28-nation EU. He gambled, and he lost.
In his final appearance in Parliament as British Prime Minister, David Cameron opened with the quip that "apart from one meeting in the afternoon with the Queen, my diary is remarkably light".