Miguel Díaz-Canel becomes Cuba's president, Raúl Castro steps down

Cuba has a new president, and for the first time in over 40 years, his last name is not Castro.

Miguel Díaz-Canel officially became president on Thursday morning after Raúl Castro, 86, officially stepped down and Díaz-Canel was confirmed by the National Assembly.

The 86-year-old Castro will remain head of the Communist Party, the most powerful governing body on the island. But his departure from the presidency represents a symbolic shift in a leadership of octogenarians. Díaz-Canel, who has served as Cuba's first vice president since 2013, turns 58 on Friday.

The transition is an effort to guarantee that new leaders can maintain power in the communist-run government. But Díaz-Canel faces challenges ahead, primarily economic stagnation and a younger generation's disenchantment with their limited opportunities.