Following Britain's decision to leave the European Union (EU) last month, after 52% of the electorate voted for Brexit or the leave campaign, Mr Cameron announced that he was standing down. This sparked off a leadership context, with Mrs May and Mrs Leadsom, beating off all the other candidates.
They were due to face a further electoral battle with the Conservative Party's 300,000 members to agree on a final candidate. In the first round of voting, only members get vote but under the party's rules, the two final candidates must then face the full membership.
Just as the two candidates were bracing up for a bruising contest, Mrs Leadsom surprisingly withdrew from the race, meaning Mrs May will now be coronated. Following the news, the pound rose amid signs that a new political leadership was taking over some 17 days after Mr Cameron resigned.
All the drama took Whitehall by surprise and it was not immediately clear how long it would take for Mrs May to be confirmed as prime minister. Graham Brady, the chairman of the Tory backbench 1922 Committee and returning officer of the leadership contest, declared the battle was over bar the formalities.
Backbencher Nadine Dorries predicted Mrs May would be at her desk by tomorrow morning and many thought she would be invited to Buckingham Palace for an audience with the Queen within hours rather than days. However, Downing Street sources cautioned that the formal processes could take longer.
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