Businesswoman Halla Tomasdottir Becomes Iceland's New President

Halla Tomasdottir will take over the position on August 1, succeeding the hugely popular Gudni Johannesson, who has held the job since 2016.

Businesswoman Halla Tomasdottir was on Sunday declared the winner of Iceland's presidential election, final results showed, beating former prime minister Katrin Jakobsdottir whom critics said was too political for the post.

Jakobsdottir conceded defeat early on Sunday and congratulated Tomasdottir, the CEO of The B Team, a global non-profit co-founded by UK business tycoon Richard Branson to promote business practices focused on humanity and the climate.

Iceland's president holds a largely ceremonial position in the parliamentary republic, acting as a guarantor of the constitution and national unity.