Scott Morrison to resign from politics for ‘new challenges in the global corporate sector’

The former prime minister, Scott Morrison, has announced he will quit parliament at the end of February triggering a byelection in his seat of Cook.

In a statement on social media on Tuesday, Morrison said he had decided “to take on new challenges in the global corporate sector and spend more time with my family”.

“By giving advance notice of my intention to leave parliament at the end of February, this will give my party ample time to select a great new candidate who I know will do what’s best for our community and bring fresh energy and commitment to the job,” he posted on Facebook.

Guardian Australia earlier reported that numerous Liberal party sources expected an announcement before the end of January. That appears to have been brought forward in response to a report in the Sydney Morning Herald that Morrison would quit.

Morrison intends to join a series of global strategic advisory roles and private boards, focused on the US and Indo-Pacific, in sectors including defence and funding of defence startups.

While these roles are mostly based in Washington, Morrison said on Facebook he intended to remain in Australia. He said he looked forward to “enjoying local life here in the shire and my church community at Horizon with my family and friends”.

Earlier on Tuesday, the shadow treasurer, Angus Taylor – who is opposition leader Peter Dutton’s representative on the NSW Liberal executive – said he was unsure of Morrison’s plans.

But Taylor praised Morrison’s “big legacy” regarding the Aukus alliance to secure nuclear-powered submarines; his leadership during Covid; and income tax reform which he said was a “critical legacy” that Morrison drove and “championed” as treasurer and prime minister.

Morrison was first elected in 2007 and holds Cook with a comfortable 12.4% margin.

A byelection is unlikely to be held before April, setting up another test for the Albanese government and Dutton opposition just weeks after the 2 March byelection in Dunkley, Victoria.

Early frontrunners to replace Morrison include the mayor of Sutherland Shire, Carmelo Pesce, and the Liberals’ former candidate for Bennelong, Simon Kennedy, who lives in Maroubra, near the north end of the electorate of Cook. Sources in Cook also expect calls to nominate a woman to improve gender balance in the party.

Morrison, who is not expected to endorse a successor, said he hopes “to see, and invite, a strong field of candidates to bring their experience, passion and dedication to our community, to the job”.

Morrison previously served as the minister for immigration, presiding over operation sovereign borders, Australia’s policy of deterring asylum seeker boats by turning them back to their country of origin.

He served as treasurer to prime minister Malcolm Turnbull before becoming PM himself during a leadership coup – when Turnbull’s leadership was destabilised by Dutton.

Morrison won the 2019 federal election in an upset victory built on concern about Labor’s tax policies and their leader Bill Shorten, but his popularity waned over his handling of the 2019-20 black summer bushfires and his response to the Covid pandemic.

He lost the 2022 election to Labor under Anthony Albanese but remained in parliament.

In a further statement, Morrison said he was “pleased to see how the Coalition has been able to move forward in opposition after the last election, maintain the stability and unity we were able to achieve in government during my leadership with Josh Frydenberg and is performing well under Peter Dutton’s leadership”.

In July 2023, Morrison was the subject of adverse findings in the robodebt royal commission report. He denied all wrongdoing.

The report led to pressure from colleagues including the Nationals leader, David Littleproud, Liberal MP Bridget Archer and Senator Andrew Bragg – although others suggested at the time the report made it less likely Morrison would pull the pin immediately.

Morrison is due to release a memoir in May called Plans for Your Good – A Prime Minister’s Testimony of God’s Faithfulness.

In September, Morrison told the St George and Sutherland Shire Leader: “If I ever had anything to say I would say it to the people of the shire first.”

“I have enjoyed the past 18 months being back local, whether attending things like this or engaging in other ways with the community. It’s how we started all those years ago. I was elected by the people of Cook to serve and that’s what I’m doing.”