President Trump recently announced that he intended to nominate Jovita Carranza, the U.S. treasurer, to lead the Small Business Administration. This comes after former pro-wrestling executive Linda McMahon announced last week that she was stepping down.
“I am pleased to announce that Jovita Carranza will be nominated as the new @SBAgov Administrator,” Trump said Thursday evening on Twitter. “Jovita was a great Treasurer of the United States — and I look forward to her joining my Cabinet!”
McMahon, who spent more than two years at the helm of the agency, is reportedly leaving to join Trump’s 2020 re-election efforts.
If confirmed by the Senate, Carranza will be the highest-ranking Hispanic woman in Trump’s Cabinet.
Carranza was appointed U.S. treasurer in 2017, and is currently an adviser to Treasury Secretary Steven Mnuchin. She also is overseeing the Office of Consumer Policy and all U.S. Mint operations, including Fort Knox, and works with the Federal Reserve. In the past, she served as the deputy administrator for the Small Business Administration under President George W. Bush.
In a recent statement, Mnuchin said that “Jovita’s experience — including time as Deputy Administrator for the Small Business Administration — will be an asset to President Trump and the SBA, as they continue to promote pro-growth economic policies, eliminate job killing regulations, and fight for the small businesses that are the lifeblood of the American economy.”
Carranza also spent more than two decades at United Parcel Service, according to her Treasury Department bio. Starting as a night-shift box handler, she climbed the ladder to become president of Latin America and Caribbean operations and the highest-ranking Latina in the company’s history.