Boris Johnson has started his first day as London mayor, vowing to "crack on" with the job.
Johnson, the Tory MP who ousted former Labour mayor Ken Livingstone after eight years, officially received the seals of office at midnight. Aides said he would use the next few days to work on delivering key campaign pledges.
Elton had supported Brian Paddick, who came in third in the election.
The Liberal Democrat candidate paid tribute to Livingstone as "an amazing mayor" and indicated that he would not be interested in working with Johnson.
He said he would be talking to Lib Dem leader Nick Clegg about his future and what he could do for the party.