Chris Ratcliffe / Getty
Here's the full statement announcing his candidacy, as per the Financial Times:
"I have come reluctantly to the conclusion that Boris cannot provide the leadership or build the team for the task ahead."
"I have, therefore, decided to put my name forward for the leadership. I want there to be an open and positive debate about the path the country will now take. Whatever the verdict of the debate, I will respect it. In the next few day, I will lay out my plan for the United Kingdom which I hope can provide unity and change."
More to follow...