On 12 August 1957, Holland announced his retirement at the National Party's annual conference in Wellington. Once he had made that announcement, he became so obviously sick that he had to be helped back to his hotel, where a doctor was called. The following day, Holyoake was formally named Holland's successor. Holland handed over the Prime Ministry to Holyoake on 20 September. Shortly afterwards, on 23 September, he was appointed a Knight Grand Cross of the Order of the Bath. He remained in Cabinet, as minister without portfolio; but he left the legislature for good at the 1957 general election, in which Holyoake went down to defeat, and which saw the advent of a second Labour Government under Walter Nash.