Self-described "democratic socialist" Zohran Mamdani, 34, who caused a sensation in the New York mayoral election on the 4th, announced the transition committee on the 5th local time. Mamdani named five women to all Chairperson-level posts on the committee.
The most eye-catching figure is Lina Khan, 36, former Federal Trade Commission (FTC) Chairperson, known in the Joe Biden administration as the "grim reaper of Big Tech." Experts said the pick clearly reflects Mamdani's youthful, reformist bent and a policy direction aimed at Wall Street and large corporations.
On this day, Mayor-elect Mamdani held a press conference at Flushing Meadows–Corona Park in Queens, New York, and released the list of the transition committee that will take over from the current New York City administration of Eric Adams before the official inauguration on Jan. 1 next year.
The transition team will be led by a leadership of five women. The most notable figure is, without question, former FTC Chairperson Lina Khan. Khan will serve as co-chair. In 2021, during the Biden administration, at age 32, Khan was appointed FTC Chairperson, the youngest ever.
The FTC is similar to Korea's Fair Trade Commission. It is a powerful authority that investigates and regulates corporations for antitrust and unfair transaction issues. Throughout her tenure, Khan took direct aim at Silicon Valley's Big Tech—Amazon, Google, Meta (formerly Facebook), and Microsoft (MS). By pushing aggressive antitrust policies, she earned the nickname "grim reaper of Big Tech." The Wall Street Journal (WSJ) hailed Khan as a "hero of the progressive camp," saying she "sought to use the FTC's enforcement powers in ways not seen in decades."
However, despite filing successive lawsuits against Big Tech corporations, courts often ultimately sided with the corporations. Because of this, she faced criticism for "filing too many lawsuits" or "waging war on business," Bloomberg said.
The picks make clear the policy direction of the Mamdani administration. Throughout the campaign, Mamdani put forward "tax hikes on the wealthy" and a "cost-of-living reduction policy" as core pledges. CNN analyzed that appointing Khan signals Mamdani will fight the establishment he calls New York's "oligarchy."
Former Chairperson Khan also said at the appointment press conference that Mamdani's victory is "a clear rejection of the reality where the power of large corporations and capital dictates politics" and "a clear mandate for change." She added, "I'm pleased to help Zohran build the team that will open a new era for New York City and create a new model of Democratic governance."
Some observers said Mamdani and Khan have similar styles in executing political strategy. Mamdani and Khan share a drive for youthful, bold reform. Their backgrounds are also similar: Mamdani's parents are Indian American, and Khan comes from a Pakistani immigrant family. However, it is not yet known whether Khan will officially join the New York City government after finishing her transition role.
To offset criticism of "lack of experience," Mamdani also placed seasoned veterans with extensive city governance experience throughout the transition team. In addition to Khan, the co-chairs include ▲ Maria Torres-Springer, former New York City first deputy mayor ▲ Grace Bonilla, head of the nonprofit United Way of New York City ▲ Melanie Herzog, former New York City deputy mayor for health and human services.
According to the WSJ, all of them served not only under the current Mayor Adams but also in the administrations of former mayors Bill de Blasio and Michael Bloomberg. They are seen as suitable choices to shore up Mamdani's weakness, as his only experience is as a New York state assembly member.
The executive director, who will effectively lead the entire transition, is Elana Leopold. Leopold is a former political strategist for former New York Mayor Bill de Blasio, who is progressive.
News that the "grim reaper of Big Tech" has arrived in New York has put Wall Street and the business community on edge. Bloomberg reported that "during her FTC tenure, Khan filled Wall Street with despair and drew outrage from billionaires."
Mayor-elect Mamdani appeared to be mindful of such concerns in the business community, offering a conciliatory message alongside. He said he looks forward to meeting business leaders, including Jamie Dimon, CEO of JPMorgan Chase, the largest U.S. bank. Mamdani said, "We don't need to agree on every issue before we sit down to talk." He added, "My pledges, like universal child care support, will benefit corporations as well." The logic is that the city government will ease the burden on corporations of supporting New York's high child care costs.
Meanwhile, the mayor-elect said at the press conference that he has not yet received congratulatory calls from former President Donald Trump, former New York Gov. Andrew Cuomo, or current Mayor Eric Adams, who were his election rivals.