Former South Australian Health Minister Peter Malinauskas has nominated to replace Jay Weatherill as leader of the South Australian Labor Party.

Mr Malinauskas said he will spend the coming days in discussions with parliamentary colleagues.

“Despite the obvious disappointment of losing government, the future for our party and movement is bright,” he said in a statement released on Thursday.

Mr Malinauskas is widely tipped to take the position after former treasurer Tom Koutsantonis, another frontrunner, ruled himself out of contention on Wednesday.

He would take over from former premier Jay Weatherill, who announced he would step down from the leadership following Labor’s defeat at the state election.

“I would like to thank Jay Weatherill for his incredible service to the people of South Australia and the Labor Party,” Mr Malinauskas said.

“I hope he and his family get the opportunity to have a well-earned rest.

“I look forward to working with Jay closely in his capacity as the Member for Cheltenham.”

Mr Malinauskas, a former shop assistants’ union chief, moved from the upper house to the safe western Adelaide seat of Croydon at the election.

The Labor caucus will meet on April 9 to elect a new leader.

-AAP