Boris Johnson will succeed Theresa May as Prime Minister after she steps down as Conservative Party leader Wednesday.

Johnson, a former foreign secretary in May’s government, gained the backing of two-thirds of party members to defeat rival contender Jeremy Hunt, the U.K.’s current foreign secretary, 92,153 votes to 46,656.

Neil Hodge is a freelance business journalist and photographer based in Nottingham, United Kingdom. He writes on insurance and risk management, corporate governance, internal audit, compliance, and legal...