Ottawa, March 15 Mark Carney was sworn in as the new Prime Minister here on Friday, formally replacing Justin Trudeau, the media reported.
Carney, who is also an economist, took the oath of the office in the presence of General Mary Simon, the personal representative of Canada's head of state, King Charles.
According to geopolitical analysts, the change of leadership assumes significance in the backdrop of a slide in relations with the US under the new Donald Trump-led administration.
The 59-year-old Carney is a former governor of the Bank of Canada and Bank of England.
According to reports, he took the oath in both English and French.
Carney has left behind others who were in the race to become leader of the ruling Liberal Party, despite not having enough political experience.
Carney's background, however, boasts of dealing with complex economic crises.
Analysts believe that his first major challenge will be addressing the strained US-Canada relations, which is believed to have hit an all-time low.
Carney reportedly plans to reshape his Cabinet, with Finance Minister Dominic LeBlanc shifting to the international trade portfolio and Innovation Minister Francois-Philippe Champagne taking over as Foreign Minister.
The move would aim to bolster Canada's alliances in Europe, particularly in London and Paris, where Carney is scheduled to visit next week.
Notably, Carney has replaced Justin Trudeau, who served as Canadian Prime Minister for more than nine years.
In a statement, Carney emphasised his commitment to defending Canadian sovereignty, saying he would only meet with Trump "when there is respect for Canadian sovereignty," according to reports.
Reports citing Canadian Foreign Minister, Melanie Joly suggested that efforts are currently underway to arrange a call between Trump and Carney.
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