Mark Carney has emerged victorious in the Liberal Party leadership contest, securing 131,674 votes, which accounts for approximately 85.9 percent of the total ballots cast. On Monday, he was officially announced as the new leader of the Liberal Party and the 24th Prime Minister of Canada, poised to take over from Justin Trudeau in the nation’s capital.

Liberal Party president Sachit Mehra confirmed Carney’s success in the leadership race, where he was widely regarded as the leading candidate to replace Trudeau. Carney previously held the position of the 8th Governor of the Bank of Canada from 2008 to 2013 and served as the chair of the Financial Stability Board from 2011 to 2018.

His reputation was significantly bolstered during the 2008 financial crisis, where he played a crucial role in steering Canada away from one of its most severe economic downturns. Public opinion polls indicate that Canadians view him as a dependable leader, particularly in his dealings with U.S. President Donald Trump.