The Australian Labor Party (ALP) caucus has changed their leader and prime minister.  The ALP is currently in government holding a majority in the House of Representatives.  Julia Gillard will replace Kevin Rudd.  It is believed that party instability and a drop in Rudd's popularity was the cause for change. 
"The new leader elected unopposed is Julia Gillard and the deputy will be Wayne Swan," Senator Michael Forshaw told media after the caucus.
The "leadership spill", as it is known, occurred at 9:00am Australian Eastern Standard Time this morning (11:00 pm last night UTC). According to reports, there was no ballot after Rudd pulled out. 
Gillard becomes Australia's first female prime minister in the country's 109 year history and has been sworn in as such by Australia's first female Governor-General, Quentin Bryce.
Channel Nine editorialised prior to the spill that Gillard had the votes to become prime minister. 

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Australian Labor Party caucus vote to change prime minister