Former British Finance Minister Rishi Sunak officially took office as the country’s prime minister. On Tuesday, he had an audience with King Charles III at Buckingham Palace, where Sunak received a mandate to form a new government, Bloomberg reported.

Before Sunak’s audience, King Charles III accepted the resignation of Liz Truss. In her last speech, she noted that it was an honor to lead a great country like Britain. She also wished success to her successor and pointed out the need to strengthen the country’s defense capabilities.

Sunak, 42, is the third British prime minister this year after Boris Johnson and Liz Truss, who has been in office for 44 days. Sunak is also Britain’s youngest head of government in more than 200 years and the first representative of ethnic minorities in the post, the agency noted.