U.K. Prime Minister Boris Johnson announced his resignation Thursday, after dozens of ministers quit his cabinet and urged him to go.

In a statement delivered outside his office at no. 10 Downing Street in London, Johnson said he has agreed to resign as leader of the ruling Conservative Party, which would result in his departure as prime minister once the party selects a successor through a leadership election, possibly in the fall. He said that process "should begin now" and the timetable will be announced next week. He also noted that he has appointed a new cabinet of ministers who, along with him, will serve "until a new leader is in place."