When Katainen stepped down as Prime Minister and Chairman of the National Coalition Party in 2014, Stubb was elected as party chairman. He went on to form a five party government coalition, and was officially appointed Prime Minister by President Sauli Niinistö on 24 June. In the election held in April 2015, Stubb's National Coalition Party lost its status as the largest party, coming in as second in vote share and third in seats. After coalition negotiations between the winning Center Party, Finns Party and National Coalition Party, Stubb was appointed Minister of Finance on 29 May 2015 by newly elected Prime Minister Juha Sipilä.