Egypt's liberal Wafd Party elected Friday prominent MP and lawyer Bahaa Abu Shaqa as new chairman for a four-year term. 

Abu Shaqa, 80, succeeds El-Sayed El-Badawy as chairman of the country's oldest political party,

El-Badawy, a wealthy businessman and long-term leader in Wafd, has served as head of Wafd Party for two consequent terms since 2010. 

However, the party's internal bylaws sets a two-term limit on chairmanship.

Five candidates competed for the seat as the head of the party in internal elections held Friday.

However, Abu Shaqa the veteran Wafdist and current head of the legislative committee in parliament, won with 1,380 votes.

Hussam El-Kholy, deputy head of the party, came second with 900 votes.

In third came head assistant of the party Yasser Hassan, with 205 votes.

Following his win, Abu Shaqa told Al-Ahram that he will work on restoring the leading role of the party, which was established in 1919.

He added that he will work on empowering youth and preparing political cadres to compete in coming parliamentary and municipal elections, as well as preparing a candidate with a programme for the next presidential elections.

In January, after a short tunmultuous debate, the party decided in January not to nominate a candidate in the 2018 presidential elections, opting to support incumbent President Abdel-Fattah El-Sisi for a second term.

The Wafd Party enjoys a considerable bloc in parliament, with the third largest block in the legislature at 45 seats out 596 members.