Edwin Poots is set to stand down as DUP leader following an internal revolt against him.
It means that Mr Poots becomes the shortest serving leader in DUP history.
A meeting of DUP party officers got under way on Thursday, with the recently appointed leader facing a major revolt.
Mr Poots said he will stand down as DUP leader following an internal party revolt against him, but will remain in the post until a successor is elected.
Senior DUP figures gathered at party headquarters in Belfast amid speculation Mr Poots could potentially face a vote of no confidence.
The DUP is in internal disarray after a significant majority of its elected representatives earlier opposed Mr Poots’ decision to nominate a Stormont First Minister.
In a statement following the meeting, Mr Poots said: “I have asked the party chairman to commence an electoral process within the party to allow for a new leader of the Democratic Unionist Party to be elected.
“The party has asked me to remain in post until my successor is elected.
“This has been a difficult period for the party and the country and I have conveyed to the chairman my determination to do everything I can to ensure both unionism and Northern Ireland is able to move forward to a stronger place.”
He was voted in as Arlene Foster’s successor on May 14, following a revolt against the former First Minister by supporters of Mr Poots.
He was formally ratified as leader on May 27, meaning he officially served just 21 days in the role.
There is now a question mark over whether Paul Givan will remain as First Minister of Northern Ireland now that Poots has lost the confidence of his party.
Sammy Wilson said before going into the crunch meeting: “Again, that’s the issue. If Edwin is no longer leader, then whoever did become leader would have the choice of the First Minister.
“These are all decisions we have got to make."
His sudden departure follows a dramatic 24 hours in Northern Irish politics.
A sizeable majority of MLAs and MPs voted against his decision to reconstitute the powersharing Executive with Sinn Fein in a bruising internal meeting just minutes before the process for nominating Stormont’s leaders began in the Northern Ireland Assembly.
Members were furious that Mr Poots pressed ahead with nominating his Lagan Valley constituency colleague Paul Givan as First Minister, after Sinn Fein secured a key concession from the UK Government to legislate for Irish language laws at Westminster.
A post-midnight announcement by the Government, committing to pass the stalled laws at Westminster in the autumn if they were not moved at the Stormont Assembly in the interim, was enough to convince Sinn Fein to drop its threat not to nominate a deputy First Minister as joint head of the devolved Executive.
The development came after a night of intensive talks involving Northern Ireland Secretary Brandon Lewis and DUP and Sinn Fein delegations in Belfast.
Many DUP politicians had warned against a Government intervention on such a sensitive devolved issue and they were enraged that Mr Poots was still prepared to enter a new coalition on that basis.
Mr Wilson had been among several DUP MPs and peers who sent an email to Mr Poots urging him to hold off nominating Mr Givan until he explained his decision.
It is understood all the party's MPs, with the exception of Mr Poots' close ally Ian Paisley, were signatories to the email.
Notable among those who signed was South Antrim MP Paul Girvan, who supported the Lagan Valley MLA's candidacy in last month's leadership contest.
When leaving the party meeting, Mr Poots only said “how are you” to waiting media before been driven off in a waiting car.
Mr Poots declined to respond to media questions about his leadership and whether he faced a motion of no confidence during the meeting.
The remaining DUP party officers left a meeting at their headquarters at 8.50pm, all departing together.
All of them them refused to speak to the media as they left.
DUP source: I've stuff in my fridge that lasted longer than Edwin's leadership
— John Manley - Irish News Pol Corr (@politicsIN) June 17, 2021