François Hollande arrived at the Elysee Palace in Paris on Tuesday to take the oath of office as the new president of France, CNN reported. Hollande becomes France's first Socialist president since François Mitterrand left office in 1995. He secured election victory earlier this month over the incumbent Nicolas Sarkozy. Greeted by flag-waving crowds on the street, a steady stream of prominent French figures arrived at the Elysee on Tuesday ahead of the ceremony and walked on a red carpet through the palace's sun-filled courtyard.