Businesswoman Tomasdottir becomes Iceland's next president

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.

He or she does however have the power to veto legislation or submit it to a referendum.

Tomasdottir, 55, won 34.3 percent of votes, ahead of 48-year-old Jakobsdottir, who garnered 25.5 percent after stepping down as prime minister of a left-right government in April to run in Saturday's election.

Jakobsdottir conceded defeat already in the early hours of Sunday, before the last votes were counted.

"It seems to me that Halla Tomasdottir is quickly heading towards becoming the next president of Iceland.

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