British PM Theresa May announces resignation in an emotional speech

Theresa May announced Friday that she will step down as U.K. Conservative Party leader on June 7, sparking a contest to become Britain's next prime minister. She will stay as caretaker prime minister until the new leader is chosen, a process likely to take several weeks. The new Conservative leader would then become prime minister without the need for a general election. Her voice breaking, May said in a televised statement that she would be leaving a job that it has been "the honor of my life to hold."