Jo Swinson has this morning resigned as Lib Dem leader with immediate effect - after just five months in the job.
The party announced at 6.20am that Ed Davey and President Sal Brinton would take over as acting leaders after she lost her East Dunbartonshire seat.
A leadership election will take place "in the new year", the party said.
It came after a devastating night for the Lib Dems in which they won just 11 seats with 642 out of 650 declared - around the same as their performance in 2017.
Overall the party lost seats compared to its position before the 2017 election, because so many MPs had defected to the 'stop Brexit' campaign in the run-up to the poll.
Nicola Sturgeon of the SNP, which ousted Ms Swinson, was caught on live TV dancing with joy when she learned the news.
In her concession speech tonight Ms Swinson said: "These are significant results for the future of our country.
“These results will bring dread and dismay - people are looking for hope.”
Ms Swinson later said in a statement: "Tonight's result is obviously hugely disappointing, in East Dunbartonshire, and across the whole country with Boris Johnson winning a majority.
"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."
"In this election, we gained more votes than in 2017 and we have been joined by many new MPs.
"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."
