National's new leader is Simon Bridges after the caucus elected him to replace Bill English.
"New Zealand deserves better than this unambitious Government, which is treading water," he said at his first news conference as leader on Tuesday.
"Today's National Party has good foundations to build on from the Key and English governments."
The party retained Paula Bennett as deputy leader - Mr Bridges said she is a fellow Māori and "westie".
Watch the video to see his full speech.