Nepal's oldest communist party CPN-UML has got a new head after KP Sharma Oli on Tuesday came victorious in the election held for selecting new leadership, the party officials announced on Wednesday.

The election was held during the ninth general convention of the CPN-UML that kicked off on July 3 in Kathmandu.

The party's senior leader, Oli who is also popular for cracking jokes and making witty statements, defeated his rival Madhav Kumar Nepal, the country's former prime minister, by a thin margin.

"Oli secured 1,047 votes while Nepal got 1,003 votes," CPN- UML leader Pradip Gyawali told Xinhua on Wednesday.

Sixty-two-year-old Oli is taken as a straightforward politician with an ability of decision-making in crucial political issues.

The parliamentary party leader from CPN-UML, Oli suffered defeat during the party's eighth general convention in 2009 while vying for the top post. Outgoing Chairman Jhalanatha Khanal defeated him.

According to the party statute, immediate past Chairman Khanal automatically becomes party office bearer with second position after the chairman in the party hierarchy.

The voting for the selection of new leadership and 159 central committee members were conducted last Friday when a total of 2,154 of 2,176 party representatives casted their votes.

According to the election committee, Bamdev Gautam who is also Nepal's deputy prime minister, Bidhya Bhandari, Yubraj Gyawali, Astha Laxmi Shakya and Bhim Rawal have been elected vice- chairpersons.

Incumbent General Secretary Ishwar Pokharel has again been elected for the same position, defeating his rival Surendra Pandey.

Similarly, Ghanashyam Bhusal and Bishnu Poudel have been elected to the post of deputy general secretary.