President Trump announced that he’s picked U.S. Treasurer Jovita Carranza to lead the Small Business Administration.
“She will be replacing Linda McMahon, who has done an outstanding job. Jovita was a great Treasurer of the United States – and I look forward to her joining my Cabinet!” Trump tweeted.
Carranza serves as a principal advisor to Treasury Secretary Steve Mnuchin and oversees the Office of Consumer Policy.
Carranza is a Chicago native and founder of the supply-chain management company JCR Group. She previously served as the deputy administrator for the U.S. Small Business Administration (SBA) under President George W. Bush, where she received a bipartisan, unanimous Senate confirmation. At SBA, she managed more than 80 field offices across the country and a portfolio of direct and guaranteed business loans, venture capital investments, and disaster loans worth almost $80 billion.
Prior to her SBA appointment, Carranza had a distinguished 20-plus-year career at United Parcel Service (UPS), where she was the highest-ranking Latina in the history of the company. She started as a part-time, night-shift box handler and worked her way up to president of Latin America and Caribbean operations. As vice president of Air Operations at the company’s facility in Louisville, she led the cutting-edge automated package processing operation.
Carranza earned her MBA from the University of Miami in Coral Gables, Fla., and received executive, management, and financial training at the INSEAD Business School in Paris, Michigan State University, and the University of Chicago.