MEXICO CITY — Mexico's incoming President Claudia Sheinbaum began naming her Cabinet Thursday, presenting an even gender distribution, as well as a heavy presence from academia and her prior administration as Mexico City's mayor.
Sheinbaum, herself a climate scientist and former academic, appointed former Foreign Affairs Secretary Marcelo Ebrard as her administration's economy secretary. Ebrard stepped down from that post in 2023 to run against Sheinbaum for their party's nomination.
Sheinbaum romped to victory in the June 2 election.
Ebrard, 63, was the official President Andrés Manuel López Obrador placed in charge of obtaining foreign-made vaccines for Mexico during the early days of the COVID-19 pandemic.
He also served from 2006 to 2012 as mayor of Mexico City, traditionally the launching pad for the presidency.
While he was once viewed as the second-most important figure in the Morena party, his standing was tarnished by two key events. First, a subway line that was hastily and poorly constructed while he was mayor collapsed in 2021, killing 26 passengers. Second, he engaged in a bare-knuckle primary race against Sheinbaum in 2023 for Morena's presidential nomination, but instead of conceding defeat quickly, he alleged irregularities and continued with legal challenges.
Still, the appointment of Ebrard appeared to be welcomed by investors, who were spooked earlier in the month following a number of proposed judicial reforms by Sheinbaum, which caused the peso to drop. After Thursday's Cabinet picks were announced, the Mexican currency showed a slight appreciation.
Ebrard will have to take on the renewal of a free trade agreement with the United States and Canada and increase foreign investment, another well-received announcement, said Gabriela Siller, director of economic analysis of the local financial group Banco Base.
