Proverb of the day :- The king is dead: long live the king

Meaning / example :-
The former king has died: may the new current king who replaced him live a long life. This is a traditional proclamation in England, especially in olden times, at the death of the monarch. King can be substituted for queen whenever the situation requires. It also signifies that the office of king or queen continues, separately from the life of the kings or queens themselves. This proverb is incredibly common in England, both as the above mentioned proclamation in the royal courts and as a phrase to describe the toppling and replacement of a well know figure, such as the CEO of a large company. It can also be applied to despotic warlords and even common public figures or sports people who’ve been at the top of their game for a long time, or the top of the pop charts (for example), and have been knocked off the top slot by someone else.