Updated: Sat Feb. 23 2008 10:19:29 PM

The Canadian Press

LONDON, Ont. — Progressive Conservative Leader John Tory says will remain at the helm of the party after members voted almost 67 per cent against holding a leadership contest following his disastrous October election loss.

After the result, Tory said he needed time to consider his future.

The time he needed turned out to be brief. Three hours later, Tory emergened late Saturday to announce that he had consulted his wife and caucus and had decided to stay on as leader.

Of the 1,308 ballots cast at the party's annual meeting Saturday, 874 voted against holding a review of Tory's leadership.

Although Tory called it a "large majority,'' it wasn't enough for him to state definitively right after the results came in whether he would stay on.

After spending several hours behind closed doors with his family and mentor, former premier Bill Davis, a weary-looking Tory said he would take some time to consider what was best for the party and himself personally.

Even though Tory's critics had said he needed the support of at least 80 per cent of the delegates to remain at the helm, Tory always maintained the party rules stated he only needed the support of 50 per cent plus one to avoid a leadership race.

But Tory's detractors immediately jumped on him for keeping the party in leadership limbo and called for his resignation.