Britain’s finance minister resigned in the wake of a dramatic cabinet redeployment that saw Prime Minister Boris Johnson fire some of his biggest government supporters.
Javid, a former City banker, has served as Chancellor since his first cabinet was formed in July by Johnson.
The 50-year-old was due to present the UK’s first budget in just 27 days after leaving the European Union. Which leaves his successor just weeks to finalize the government’s next year’s spending plans.
Rishi Sunak, an Oxford and Stanford graduate, was an analyst at Goldman Sachs and co-founded hedge fund Theleme Partners before being elected to represent Richmond, Yorkshire as MP in 2015. His parliamentary voting record is quite conservative, with the 39-year-old voting against further EU integration and inquiries into the Iraq war but for raising the income tax threshold.
In the run-up to last year’s general election, he stood in for Johnson during a debate but has yet to encounter the kind of criticism that front bench ministers face.