Beleaguered Boris Johnson resigns, to stay UK PM until new leader elected

'I want you to know how sad I am to be giving up the best job in the world,' Johnson said in a speech outside Downing Street

British Prime Minister Boris Johnson on Thursday announced his resignation as Conservative Party leader following an unprecedented mutiny from within his Cabinet and after being abandoned by his close allies in the wake of a series of scandals that rocked his government, triggering a leadership election for a new Tory leader who will go on to become his successor.

Johnson, 58, said he will remain in charge at 10 Downing Street until the process of electing a new leader is completed - expected by the time of the Conservative Party conference scheduled for October.

He blamed the "herd instinct" of his party