PM Cameron announces resignation, says people's will must be respected

After much speculation, British Prime Minister David Cameron called it quits post Brexit on Friday, adding that he would officially step down from office in October.

He announced his resignation after Britain chose to take the exit route from the European Union.

A referendum was held in which around 72 percent Britishers voted.

Fifty-two percent voted in favour of Brexit from the EU even after Cameron's call to stay on.

"I was absolutely clear [in the referendum] about my belief that Britain is stronger, safer and better off inside the European Union. And, I made clear the referendum was about this and this alone, not the future of any single politician, including myself", said Cameron.

Adding that the people have decided to take a different path and it should be respected, he resigned.

He further stated "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."

Cameron said he has not taken this decision lightly, adding he does believe it's in the national interest to have a period of stability and then a new leadership.

"There is no need for a precise timetable today. But in my view we should aim to have a new prime minister in place by the start of the Conservative Party conference in October," said Cameron.