Following a series of mass resignations by Cabinet members that led to Conservative Party-led government into a deeper political crisis, Boris Johnson, British Prime Minister tendered his resignation today.

However, Johnson will continue to serve as Prime Minister until  a new leader is appointed.

In his address to the nation, Johnson, though said that he regrets not being able to complete term but added that he was immensely proud of his achievements.

Johnson said: “To public, I know there will be many who are relieved,” and added, “I am sad to be giving up the best job in the world.”

Expressing his regret to not have been successful to stay, Johnson said, ‘It is painful not to see my term through.’ He further said that ‘the herd instinct is powerful and that no one is indispensable in politics.’

As per the reports of AP, the decision to step down comes after one of his closest allies, Treasury Chief Nadin Zahawi told him to resign for the good of the country.

Months of discontent over Johnson’s judgment and ethics within the governing Conservative Party erupted after two of the biggest resignations on Tuesday were that of Indian-origin Rishi Sunak from the post of Chancellor and Pakistani-origin Sajid Javid as the Secretary of State for Health came in.

Javid said he can no longer serve in Johnson’s government in “good conscience” as he has “lost confidence” in the Prime Minister.

Soon, a Conservative leadership race will take place for the position of a new Prime Minister. It will be in place in time for the Conservative Party conference in October.

As per BBC reports, Johnson had earlier said that he vowed to “keep going” following a wave of resignations from the government over his leadership but has now decided to step down.

Besides, earlier on Thursday, Caroline Johnson resigned as vice chair of the Conservative Party. Nadhim Zahawi, who was given the job less than 48 hours ago and Michelle Donelan, who were only appointed as the Chancellor and Education Secretary respectively on Tuesday, have also quit.

In his resignation letter, Zahawi said he had “made clear to the Prime Minister” that he should “leave with dignity”, the BBC reported.

In her resignation letter, Donelan said that “I see no way that you (Johnson) continue in post, but without a formal mechanism to remove you it seems that the only way this is only possible, is for those of us who remain in cabinet to force your hand”.

Ministers Helen Whately, Damian Hinds, George Freeman, Guy Opperman, Chris Philp, and James Cartlidge have also stepped down.