Rishi Sunak Emerges As Likely Contender To Become UK PM After Boris Johnson Drops Bid

Rishi Sunak has emerged as a favorite to become the United Kingdom’s next prime minister after former holder of the top post, Boris Johnson, withdrew from the race on Sunday.

What Happened: Johnson said over the weekend, “I believe I have much to offer but I am afraid that this is simply not the right time,” reported Reuters.

The former U.K. leader said he had secured the backing of 102 parliamentarians but failed to convince Sunak or his opponent Penny Mordaunt to come together in “the national interest,” according to the report.

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Why It Matters: Johnson dropping his bid to become prime minister likely clears the way for the 42-year-old Sunak to become U.K.’s next leader, noted Reuters.

Rules dictate that a candidate must secure the backing of 100 Conservative lawmakers to be named prime minister.

Sunak, a former finance minister of the Johnson era, will replace Lizz Truss, who resigned last Thursday after being in power for the shortest period ever.