His predecessor, Gotabaya Rajapaksa, fled the country and resigned following months of mass protests over the island's economic crisis. Mr Wickremesinghe faces the immediate task of trying to lead Sri Lanka out of economic collapse and restore public order. "Our divisions are now over," he told parliament in a short acceptance speech after being elected by his fellow MPs and urged his opponents to work with him for the good of the country. Sri Lanka can unite under Mr Wickremesinghe and his opponents question his mandate to serve the current term before elections in late 2024, even though the constitutional procedure has been followed. He is the sole MP of the party he leads, and he owes his election to top office to members of the ruling SLPP party - led by the Rajapaksa. The new president's deep unpopularity could trigger more unrest when Sri Lanka needs political stability so it can resume stalled negotiations with the International Monetary Fund (IMF) for a bailout package. Some protest organizers have vowed to continue demonstrating, with many pointing out his close links with the Rajapaksa family. "He came into power saying he was going to hold everyone accountable, the Rajapaksa even, but he did nothing," said university student Anjalee Wanduragala ahead of the parliamentary vote. "It's absurd to think that people will trust him again."
Mr Wickremesinghe, a senior MP and leader of the United National Party which once ruled Sri Lanka, has run twice for president and lost - in 1999 and 2005. Around the turn of the century, he was a genuine contender to lead the country, but his star subsequently waned. He has been prime minister six times but has never seen out a full term. His latest prime ministerial stint began as recently as May when he was named to the post in an ultimately unsuccessful attempt by Mr Rajapaksa to cling to office. Mr Wickremesinghe then became acting president on 13 July, when Mr Rajapaksa fled. But his new role got off to an inauspicious start when he declared a nationwide state of emergency, only to have it defied by thousands of protesters who stormed his office in the capital, Colombo. In a TV statement, he denounced the demonstrators as "fascists". But they want him out of power as well. His private residence was set ablaze during unrest a few days earlier. He wasn't at home at the time. Protests flared up in Colombo in early April. Since then, they have grown in size and spread across the country.
For months, people have been struggling with daily power cuts and shortages of basics such as fuel, food and medicines. The country's foreign currency reserves have virtually run dry, meaning it doesn't have enough funds available to buy goods from other countries. Resentment at these growing hardships boiled over, forcing Gotabaya Rajapaksa out of office - and Mr Wickremesinghe will be aware the same fate could await him. Why is Sri Lanka in crisis? How Sri Lanka's war heroes became villains Sri Lanka's tea farmers struggling to survive A lawyer by profession, he comes from an affluent family of politicians and businessmen. He was first elected to parliament in 1977 and quickly moved up the party ladder after Ranasinghe Premadasa was elected president in 1989. He first served as prime minister from 1993 to 1994.
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