Raul Castro announced on Sunday that he will retire as Cuba's president after he completes his 5-year-term , news sources report.
In his 35-minute speech at a conference of legislative leaders in Havana, Castro selected Miguel Diaz-Canel as his top vice president and first in the line of succession, USA Today reported.
Diaz-Canel, 52, is a vice president of the Council of Ministers and a former minister of higher education. He is known as the second most powerful political figure in Cuba, the Associated Press reported.
Castro also announced that he wants to establish term limits and age caps for political offices, according to the New York Times. When Castro retires in 2018, it will be the first time in 59 years that a Castro has not been in charge.