Paraguayan Juan Angel Napout has replaced Eugenio Figueredo of Uruguay as the president of South American football's CONMEBOL governing body.
The position became vacant after Figueredo was appointed FIFA vice president following the death of Argentine FA boss Julio Grondona.
Napout, 56, has been president of the Paraguayan FA since 2007.
"This is a huge challenge for me because to reach (the presidency of) the South American Football Confederation is the biggest dream there is," Napout told a press conference in Asuncion.
"We know a lot of things are expected of us but we have the confidence to see them through. I'm ready for this."
Media reports said Napout's term as CONMEBOL chief would run until May 2015.
