Nadhim Zahawi will replace Rishi Sunak as the Chancellor of the Exchequer, Downing Street have confirmed.
Universities Minister Michelle Donelan will assume Nadhim Zahawi's previous role as Education Secretary.
At 8:30 this evening Mr Zahawi entered Number 10, refraining from answering questions from the media as to whether he continued to support the Prime Minister.
Minutes after the entry of the of the Education Secretary into Downing Street, Universities Minister Michelle Donelan stepped into the building.
Following his appointment as Chancellor of the Exchequer, Mr Zahawi departed Downing Street in an awaiting car, clutching a brown envelope.
Rishi Sunak and his fellow Senior Minister Sajid Javid, left the Prime Minister battling to maintain his position in office, following mounting questioning over his handling of the row over MP Chris Pincher.
Former Chief of Staff for Downing Street, Steve Barclay assumed the position of Health Secretary, replacing Mr Javid.
The Government are currently embroiled in a row over the handling of alleged misconduct from MP Chris Pincher.
Mr Pincher quit as deputy chief whip last week following claims that he groped two men at a private members’ club, but Mr Johnson was told about allegations about him as far back as 2019.
The Prime Minister acknowledged he should have sacked Mr Pincher when he was told about the claims against him when he was a Foreign Office minister in 2019, but instead Mr Johnson went on to appoint him to other government roles.