The Liberal Democrats have named its deputy leader Sir Ed Davey as acting joint leader after Jo Swinson’s election defeat.
Sir Ed will be joined by party president Baroness Sal Brinton.
A leadership contest will take place in the New Year.
Ms Swinson lost her seat to the Scottish National Party by 149 votes.
Under the Lib Dem constitution, the party leader must be an MP.
Ms Swinson said the result was “hugely disappointing”.
Her statement added: “I am proud that in this campaign, the Liberal Democrats have stood up for openness, generosity and hope.
“We were honest about what we believe in and what we were trying to achieve.
“This is clearly a setback for liberal values.
“But there are millions of people across the country who believe in them.
“By coming together to fight for them, we can create a positive future.
“These results will bring dread and dismay and people are looking for hope.”
Baroness Brinton said: “In the weeks ahead we will elect a new leader and our party will continue to be the rallying point for anyone who believes in a country where everyone has the chance to get on in life.”
The Lib Dems fought a campaign on a resolutely Remain platform.
Voters also failed to connect with Ms Swinson and her over-confident predictions of a Lib Dem victory.
She even spoke of herself as the Prime Minister.
Other Lib Dem leading lights failed to win seats.
Labour defector Chuka Umunna – a possible future Lib Dem leader – was defeated.
As was former Labour MP Luciana Berger.
And deserting Tory MPs Sarah Wollaston and Sam Gyimah also failed.