LONDON, July 11 (Xinhua) — British Home Secretary Theresa May, the only remaining contender in the Tory leadership bid, is to become the new prime minister by Wednesday evening, Prime Minister David Cameron announced Monday.

Theresa May will become Britain's new leader on Wednesday (Jul 13), Prime Minister David Cameron said on Monday after her sole rival pulled out of a leadership race.

"We'll have a new prime minister in that building behind me by Wednesday evening," Cameron told reporters outside his Downing Street residence, explaining that he would hold his final Prime Minister's Questions session in parliament on Wednesday before meeting Queen Elizabeth II to step down.