"Obviously a new prime minister will select his own cabinet and all of us will remain in office until that point and then the new prime minister will make his decision," Hammond told ITV television in response to a question about whether finance minister George Osborne would remain in post.
Asked about what would happen to Gibraltar, a British enclave in southern Spain which Madrid said it would seek to jointly govern with London after the Brexit vote, Hammond said:
"We will be less able to protect Gibraltar's interests, not to defend Gibraltar's territory, of course we can do that, but to protect Gibraltar's interests if we are not in the European Union."
"Gibraltar depends on thousands and thousands of Spanish workers crossing that border every day and any disruption to that flow will be extremely damaging to the Gibraltar economy." (Reporting by Estelle Shirbon, editing by Elizabeth Piper)
"Fair number" of UK Labour policy chiefs to resign -lawmaker
Heidi Alexander, who resigned as health policy chief for Britain's opposition Labour Party on Sunday, said she expected several of her colleagues in party leader Jeremy Corbyn's top team to do the same.
The party is in open conflict following Britain's vote to leave the European Union on Thursday. Labour's widely respected foreign policy chief Hilary Benn was sacked earlier after saying he had lost confidence in Corbyn.
"I think that there are a fair number," Alexander told ITV television in response to a question about how many of her colleagues she expected to resign.
"I know from the conversations that I've had with colleagues that this is a very difficult time for all of us. It's not a decision that we want to take but some of the time you do have to take tough decisions in politics and so I know a lot of my colleagues will be asking themselves similar questions to the one I've asked myself this morning."
