"New Zealand First indicated last week that it would consider the deputy-leadership position at its caucus meeting this morning," Mr Peters said.
"After careful consideration, the caucus today supported Fletcher Tabuteau to take over the role, and I congratulate him on this appointment as deputy-leader."
"New Zealand First extends its immense gratitude for the service of Ron Mark as deputy leader."
Mr Peters said the party recognised Mr Mark was an integral member of the team and looked forward to him playing a key role in his capacity as Minister of Defence and Minister of Veterans Affairs.
Fletcher Tabuteau had been a member of the party since its inception and was serving second term as a member of parliament.
With the formation of the new government he was appointed Parliamentary Under-Secretary to the Minister of Foreign Affairs and to the Minister for Regional Economic Development.
