incumbent
noun [ C ]
formal uk/ɪnˈkʌmbənt/ usa person or business that holds a particular position in a company, market, industry, etc. at the present time:
The incumbent has been awarded the airline's new advertising contract, despite stiff competition from other agencies.
POLITICS
the person who holds a particular elected position at the present time:
Three new mayoral candidates intend to challenge the incumbent.
incumbent
adjective
formal uk/ɪnˈkʌmbənt/ us [ before noun ]
holding a particular position in a company, industry, etc. at the present time:
the incumbent management/director/supplier
[ before noun ] POLITICS
holding a particular elected position at the present time:
the incumbent mayor/president/vice-president
it is incumbent on sb to do sth
someone has a duty or responsibility to do something:
"I think it is incumbent on us to provide a good environment for business," he said.