Georgy Margvelashvili to be new president, exit polls show "It seems that the picture is clear, and the final results will not be much different from the exit polls," Mr Bakradze said in televised comments. accepting defeat, he said: "I congratulate Georgy Margvelashvili on his victory. As the leader of the opposition, I will be ready to work with the new president. A 44-year-old academic brought into government last year as education minister, and then promoted to deputy premier, Mr Margvelashvili owes his rapid rise entirely to Mr Ivanishvili. His main foreign policy goal is to pursue close ties with the West and Russia, a balance that has long eluded Georgia. The departure of Mr Saakashvili, who had served the maximum two terms, should ease policy-making after a year of squabbling between him and Mr Ivanishvili, Georgia's richest man. Constitutional changes will tilt power from the presidency toward the government and parliament, but the president will have a diplomatic role as head of state, and will be commander-in-chief of the armed forces. Mr Saakashvili, 45, strengthened democracy in Georgia and launched economic reforms after coming to power following the bloodless "rose revolution" in 2003, but lost a five-day war to Russia in 2008 and failed to reform the justice system.