Formerly the UK’s foreign minister, Truss defeated opponent Rishi Sunak, formerly the country’s finance minister, 57 percent to 42 percent.
Her new role will be cemented after the Queen formally approves the new government.
Truss does not automatically become prime minister on Monday as ritual dictates that the outgoing prime minister (in this case Boris Johnson) first has to tender his resignation to Queen Elizabeth II, who then appoints Truss.
As the queen is currently staying in her Scottish residence Balmoral Castle, that event will take place there rather than in Buckingham Palace in London as the 96-year-old monarch experiences continuing mobility issues.
Johnson and Truss are set to travel up to Balmoral on Tuesday and relations between the two politicians are cordial — Truss was among the high-level ministers that remained loyal to Johnson in the final death throes of his leadership, which by the end had been engulfed by several political controversies and scandals, while other top officials jumped ship. (CNBC)
"I campaigned as a Conservative, and I will govern as a Conservative," Truss said after her victory.
"I will deliver a bold plan to cut taxes and grow our economy," she added. "I will deliver on the energy crisis, dealing with people’s energy bills but also dealing with the long-term issues we have on energy supply."
