Australia has changed its prime minister for the sixth time in 11 years.
The country’s treasurer Scott Morrison will replace Malcolm Turnbull after winning a three-way battle for the leadership of the Liberal party.
He saw off the challenge of former home affairs minister Peter Dutton and Foreign Minister Julie Bishop.
Mr Turnbull opted not to contest the vote – the second of its kind this week.
Liberal party whip Nola Marino announced: "The successful candidate was Scott Morrison. He won this vote 45-40 against Peter Dutton.
Mr Morrison was the architect of Australia’s extreme anti-asylum seeker policies – however his win is still being hailed a victory of the hard-right elements in the party.
Resignation
Speaking to the media in Canberra, Mr Turnbull said he will quit politics now his replacement has been chosen.
He said: "I want to thank the Australian people for everything they've done. It has been such a privilege to be the leader of this great nation.
"I love Australia. We have the most successful multi-cultural society in the world and I have always defended that.
"We must never allow the politics of race or division or of setting Australians against each other to become part of our political culture."
Coup capital
It is Australia's sixth change of prime minister in 11 years, prolonging an era of extraordinary political instability.
The leadership battle was sparked on Tuesday by an unsuccessful challenge by Mr Dutton, who narrowly lost a vote against Mr Turnbull.
Under intense pressure to call a second vote, Mr Turnbull convened a party meeting on Friday after receiving a letter signed by the majority of party members calling for a change of leader.
Before the ballot, Mr Turnbull said that if he lost his position as prime minister, he would resign from parliament - leaving the new government facing a by-election for his Sydney seat that could see it lose its one-seat majority.
Mr Turnbull came to power in a party-room coup in September 2015.
A social liberal and multi-millionaire former merchant banker, he struggled to appeal to conservative voters and only narrowly won a general election in 2016.
Australian Treasurer and new leader of the Liberal Party Scott Morrison, right, and new deputy leader Josh Frydenberg, left, leave a meeting in Canberra, 24-08-2018. Image: AP Photo/Andrew Taylor
Anti-immigration
Mr Morrison, a devout Christian, is widely regarded as a conservative who respects moderates but has a tough stance on immigration.
The 50-year-old rose to public prominence when the conservative coalition government was first elected under prime minister Tony Abbott in 2013 as the minister who stopped asylum seekers from attempting to reach Australian shores by boat.
Mr Morrison's victory was welcomed by financial markets, which have been rocked by the political instability.
Australian shares edged higher on Friday, rebounding after three days of losses that saw the benchmark fall 1.5%.
The Liberal party is the senior partner in the ruling conservative coalition that will face an election by May 2019.
The Liberal-National government has consistently trailed opposition Labor in opinion polls in recent months.
