BUENOS AIRES — Mauricio Macri's victory in Argentina's presidential election puts an "end to 12 consecutive years of Kirchner government," the Buenos Aires-based daily La Nacion wrote in its Monday edition.

On Sunday, Macri, the 56-year-old mayor of Buenos Aires, defeated his rival Daniel Scioli by some 51.5% to 48.5% in the second-round runoff. Scioli, the governor of the Buenos Aires province, was backed by outgoing President Cristina Kirchner, who had served two terms, following the rule of her late husband Nestor Kirchner.

Macri represented the Cambiemos ("Let's change") party, a coalition gathering the center-left and conservatives. Supported by business leaders and an array of political forces that sought to end to 12 years of one-family rule, the son of one Argentina's richest men was also the president of the Boca Juniors soccer club.

Macri has promised to split with the protectionist economic policies carried out by the Kirchner governments since 2003.

In a speech after his victory on Sunday, Macri said the result meant the "changing of an era." His main challenges will include reviving his country's economy on the brink of recession. Without a majority in the Chamber of Deputies or at the Senate, he will also have to form alliances.