Jeremy Rockliff will become Tasmania's 47th Premier and Michael Ferguson will step up as his deputy.
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Party whip Felix Ellis announced on Friday Mr Rockliff would be sworn in as premier after Peter Gutwein said on Monday he would resign as Premier and Member for Bass to spend more time with his family.
Mr Rockliff, who was the only person to nominate for the top job, has served as deputy leader of the Liberal Party since 2006 and Member for Braddon since 2002.
Mr Ferguson was appointed to the role of deputy premier, as also the only person to nominate for the role.
From Mr Ellis' statement it is clear Member for Clark Elise Archer did not nominate for the role of deputy premier.
In a statement on Thursday, Mr Ferguson said he made the decision to nominate for deputy premier after "positive conversations" with Mr Rockliff.
"A deputy with that same energy and loyalty is precisely what Jeremy will require," Mr Ferguson said in the statement.
"He, together with all our incredible team, will be able to depend on me as a unifying and supportive person and experienced hand."
Mr Rockliff's first challenge will be to allocate the key Treasurer portfolio, previously held by Mr Gutwein.
It is also not yet known whether Mr Rockliff will remain as Health Minister.
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