Shipley continued to lead the National Party until 2001, when Bill English replaced her. English, however, proved unable to gain traction against Clark, and National suffered its worst-ever electoral defeat in the 2002 election, gaining only 27 of 120 seats. Many hoped that English would succeed in rebuilding the party, given time, but a year later polling showed the party performing only slightly better than in the election. In October 2003 English gave way as leader to Don Brash, a former governor of the Reserve Bank who had joined the National Parliamentary caucus in the 2002 election.