David Cameron will chair his final cabinet meeting as prime minister later as Theresa May prepares to take over, BBC News reports.

May had been expecting a nine-week Conservative leadership race, but rival Andrea Leadsom withdrew on Monday, July 11.

Cameron will tender his resignation to the Queen on Wednesday, leaving May, home secretary since 2010, to appoint her own ministerial team.

May said she was "honoured and humbled" to be taking over and pledged to make a success of the UK's EU exit.

Leadsom's surprise announcement left May, who had been the front runner, as the only remaining candidate to take over the leadership of the Conservative Party and, therefore, also become prime minister.