The Greens will hold a party room meeting next week to vote on their new leader after Adam Bandt was ousted from his seat after about 15 years.

Acting leader and senator Nick McKim said the party will meet on Thursday to decide on its leadership team.

“Our party is bigger than any of us, and we are ready to get to work on the critical issues facing our country,” he said.

“There are numerous remarkable individuals who would be excellent leaders of our party, and I am fully confident that whoever is selected will lead us effectively and with strength.” 

McKim confirmed he is not putting his hand up to run.

Mehreen Faruqi and Sarah Hanson-Young are believed to be the top contenders for the role.

Faruqi serves as the deputy leader and senator for New South Wales. She entered the state parliament in 2013, becoming the first Muslim woman to hold a seat in any Australian parliament. 

Hanson-Young is the senator for South Australia and the party’s representative for the environment and climate. She was first elected in 2007.

Bandt conceded defeat in his seat of Melbourne to incoming Labor MP Sarah Witty yesterday.

He is the second federal party leader, after Peter Dutton, to lose his seat at last Saturday’s ruthless federal election.