Former chancellor George Osborne has been named as the new editor of the London Evening Standard newspaper.
Osborne will succeed current editor Sarah Sands and assume his new role in early May.
He will remain an MP while editor of the newspaper, and will continue to vote and contribute in Parliament in afternoons after the paper goes to print.
Osborne’s new job comes after it was announced earlier this year that he will join BlackRock, as a senior advisor at the asset manager’s in-house investment think tank, BlackRock Investment Institute.
He will be paid £650,000 a year for his role at BlackRock.
Commenting on his new role as editor of the Standard, Osborne said: ‘Growing up as a Londoner, I’ve always known that the Evening Standard is an institution that plays a huge part in the life of the city and its people.
‘Now it is a great honour that I can play a part as leader of the editorial team making the Evening Standard the definitive voice of the world’s most exciting city.
He added: ‘I am proud to be a Conservative MP, but as editor and leader of a team of dedicated and independent journalists, our only interest will be to give a voice to all Londoners. We will be fearless as a paper fighting for their interests.
‘We will judge what the government, London’s politicians and the political parties do against this simple test: is it good for our readers and good for London? If it is, we’ll support them. If it isn’t, we’ll be quick to say so.’
Evening Standard owner Evgeny Lebedev revealed Osborne put himself forward for the position and called him the ‘obvious choice’ to become the new editor.
He said: ‘I am proud to have an editor of such substance, who reinforces the Evening Standard’s standing and influence in London and whose political viewpoint - liberal on social issues and pragmatic on economic ones - closely matches those of many of our readers.’