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Carlos Cordeiro is elected president of the U.S. Soccer Federation

Carlos Cordeiro, a former Goldman Sachs executive and current vice president of the U.S. Soccer Federation, was elected the USSF's president Saturday, beating seven contenders in a vote conducted at the federation's general meeting.

Cordeiro, who joined U.S. Soccer as an independent director in 2007, became the federation's treasurer a year later before rising to vice president in 2016. He was elected on the third ballot, with 68.6% of the vote, upsetting Kathy Carter, who was bidding to become U.S. Soccer's first woman president.

Cordeiro will succeed Sunil Gulati, the longest-serving president in USSF history, who did not run for reelection after serving three four-year terms.