Former treasurer Josh Frydenberg has conceded the seat of Kooyong following Saturday’s election.
Independent candidate Monique Ryan will now be the next MP for the Melbourne electorate.
In a statement on Monday, Mr Frydenberg said he had called Dr Ryan to concede the election.
“Today I rang Dr Monique Ryan to congratulate her on the election result in Kooyong and wished her well for the term ahead,” he said.
“It’s been an incredible privilege to have served as the local member for the last 12 years.”
Dr Ryan is expected to hold a media briefing later on Monday.
The former treasurer was one of many high-profile Liberals to lose their safe, blue-ribbon seats to the so-called teal independent candidates.
Mr Frydenberg said he had given his job as an MP his all.
“Inspired by the wonderful local people I have met, among them those who volunteer in our charities and sporting clubs and work in our small businesses and schools,” he said.
“We have achieved so much together. It is their contribution that makes our community great.”
Mr Frydenberg said he was looking forward to spending more time with his family.
His announcement followed a formal concession by the Liberal Party’s Dave Sharma that his blue-ribbon seat of Wentworth had been won by another teal independent, Allegra Spender.
Mr Sharma issued a statement on Monday morning confirming he had spoken to Ms Spender to “congratulate her on her election result” in the wealthy Sydney seat, once held by Malcolm Turnbull.
“Whilst there are still some 40,000 votes still to be counted, and some time until an official result is declared, I expect the current lead will not change markedly,” he said.
“It has been a privilege to serve the people of Wentworth these past three years as their federal member of Parliament, and I wish to thank the people of Wentworth for the opportunity to do so.”
Mr Sharma – who won Wentworth back for the Liberals from independent Kerryn Phelps in 2019 – said he believed much had been achieved during his three years in office.
“At a national level, I am glad to have played a part in Australia adopting a net-zero emissions target by 2050, facilitating the historic and critical AUKUS arrangement, supporting the ratification of free trade agreements, and helping shape our policy responses to China’s growing assertiveness in our region,” he said.
But he warned that Australia faced “a more challenging global outlook than we have seen for several generations”.
“In the face of such challenges, the quality of our political and national leadership will matter greatly,” he said.
“I congratulate the incoming Labor government on their election.”