Rishi Sunak to become next British prime minister

Rishi Sunak said Monday he was "humbled and honoured" to be chosen leader of Britain's Conservative Party, a role that will see him become the third British prime minister this year.

Sunak emerged over former leader Boris Johnson and Penny Mourdaunt in the truncated process to replace Liz Truss as leader. He was the only candidate with confirmed support from more than 100 lawmakers, the number needed to run in the election, with his backers claiming he has been endorsed by more than half of the 357 Conservative lawmakers in Parliament.

"I can confirm that we have received one valid nomination, and Rishi Sunak is therefore elected as leader of the Conservative Party," said party official Graham Brady.

Mourdant just minutes earlier had released a concession statement.

"Rishi has my full support," she said.

Truss announced her resignation last week. Truss's short tenure of just over six weeks was marked by shock over the government's mini-budget, which roiled British markets, and internal party dissension leading to cabinet departures and backbenchers expressing a lack of confidence in Truss.

Sunak in a short speech mentioned the "profound economic challenge" the country faces, which includes soaring energy and food prices, and a looming recession.

Sunak, the former Treasury chief under Johnson, will become Britain's first leader of colour and the first Hindu to take the top job. At 42, he'll also be the youngest British prime minister in more than 200 years.

He will be asked by King Charles III to form a government. 

Johnson dramatically quit the race on Sunday night, ending a short-lived, high-profile attempt to return to the prime minister's job he was ousted from little more than three months ago amid ethics scandals.

Johnson spent the weekend trying to gain support from fellow Conservative lawmakers after flying back from a Caribbean vacation. Late Sunday he said he had amassed the backing of 102 colleagues. But he was far behind Sunak in support, and said he had concluded that "you can't govern effectively unless you have a united party in Parliament."

Sunak had helped bring down the Johnson government in the summer with his resignation. In a series of tweets Sunday, he praised Johnson for delivering Brexit, the COVID-19 vaccine rollout and his support of Ukraine as it fights Russia's invasion.

Sunak vied for the leadership in the summer, but saw Truss finish with more votes, buoyed by support from grass roots party members.

Truss promised her "full support" Monday to Sunak, and Theresa May, Conservative prime minister from 2016-2019, applauded the choice.