Jagadish Shettar has been named as the new chief minister of Karnataka.

His predecessor, DV Sadananda Gowda will submit his resignation to the governor shortly.

Shettar was selected as the chief minister during the legislature party meeting of the Bharatiya Janata Party held in Bengaluru.

During the meeting, the party also worked out a compromise formula for the post of deputy chief minister.

After all the mud-slinging on Tuesday morning, sources say that the party has decided to appoint two deputy chief ministers in the state -- one from the Yeddyurappa faction and the other from the Sadananda Gowda faction.

The deputy chief minister will be named after senior party leaders Rajnath Singh and Arun Jaitley hold discussion with party president Nitin Gadkari following Shettar's swearing in ceremony.

But sources indicate that the two deputy chief ministers could be state home minister R Ashok and state party president K S Eshwarappa.

While the Yeddyurappa camp secretly backed Ashok for the post, the Gowda faction had proposed Eshwarappa's name.

The distribution of portfolios has, however, not been announced as yet.