– With AAP
“While I intend to continue to serve as the member for Maribyrnong, I will not be a candidate in the next Labor leadership ballot,” Shorten told the Labor crowd in Melbourne on Saturday night, after losing two elections in a row.
The final election result defied every poll in the lead-up to the election, with Mr Shorten expressing confidence on Friday that he could form a majority government.
Instead Labor lost seats in Tasmania, NSW and Queensland, nullifying the gains the party made in Victoria.
"Labor's next victory will belong to our next leader and I'm confident that victory will come at the next election," Mr Shorten said after conceding defeat.
Senior frontbencher Anthony Albanese announced on Sunday he will run for the Labor leadership, with other potential contenders deputy leader Tanya Plibersek and shadow treasurer Chris Bowen expressing interest too.
Another contender in the race may also be Tony Burke, Labor's chief tactician in the House of Representatives. ABC News reports finance spokesman Jim Chalmers and defence spokesman Richard Marles could also be in the mix for the deputy leadership.