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Today (5/24/2019), Theresa May announced that she will step down as UK Prime Minister, and that she will quit as Conservative Party leader on 7th June.
Why is she waiting until 7th June? Why waste two weeks and not just step down as party leader today?
Based on the reporting, she's staying a bit longer for two main reasons:
The prime minister will remain in Downing Street, to shoulder the blame for what are expected to be dire results for her party from Thursday’s European elections – and to host Donald Trump when he visits.
Trump will be visiting the UK from June 3 to June 5.
Another issue, which might explain why the leadership contest only begins in full swing on June 10 rather than immediately or June 8, is that the Tories are looking into changing the rules to elect their leader. There are a few more details about the election procedure on Wikipedia.
Aside from the political reasons given in Denis de Bernardy's answer, there are administrative benefits to the delay, such as Conservative MPs vanishing off from Westminster for the Whitsun recess next week, and the 1922 Committee (who run things like this in the Conservative party) having already starting planning for a contest commencing on the 10th of June.
