David Cameron has announced he will step down as UK Prime Minister by his party's autumn conference, after British voters opted to leave the EU.
Cameron, who was re-elected as Prime Minister last year on the promise of an In/Out referendum on the UK's EU membership, had campaigned for his country to remain part of the bloc.
It is unclear who will replace him, though former Mayor of London Boris Johnson is said to be the favourite to succeed him.
Addressing reporters this morning, an emotional Cameron said, "There can be no doubt about the result. Across the world, people have been watching the choice that Britain has made.
"I have always believed we need to confront big decisions not duck them. I fought this campaign in the only way I know how, to say directly and passionately what I think and feel, head, heart and soul. I held nothing back. I was absolutely clear about my belief that Britain is stronger, safer and better off inside the EU. I made clear the referendum was about this and this along not the future of any single politician, including myself.
"But the British people made a different decision to take a different path. As such I think the country requires fresh leadership to take it in this direction. I will do everything I can as Prime Minister, to steady the ship in the weeks ahead, but I do not think it would be right for me to try to be the captain that steers our country to the next destination.
"This is not a decision I have taken lightly but I do think it is in the national interests to have a period of stability and then the new leadership required. In my view we should aim to have new Prime Minister by the start of the Conservative party conference in October, delivering stability will be in important and I will continue in post with my cabinet for the coming months."
Cameron added that he did not feel he should be the one leading the UK's negotiations to exit the EU.
The leaders of the remaining 27 EU member states are expected to discuss the result next week in Brussels ahead of a full meeting of heads of state and government, that will include Cameron.