David Cameron announces impending resignation 00:50 Story highlights Theresa May officially named Conservative Party leader May's sole rival, Andrea Leadsom, pulled out of the race London (CNN) British Prime Minister David Cameron is to resign Wednesday, paving the way for Home Secretary Theresa May to take the reins. May was officially named Conservative Party leader and successor to Cameron "with immediate effect" Monday, said Graham Brady, chair of the 1922 Committee, a collection of Conservative members of Parliament key to electing the party leader. She will replace Cameron on Wednesday evening. In remarks shortly after her leadership was affirmed, May said her priorities will be to administer Britain's exit from the European Union, a move approved by voters last month, to unite the country and to create a "strong, new, positive vision for the future," n...
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