The correct answer is Option 2: M. Bachelet. Michelle Bachelet was Chile`s first woman President. She served as the President of Chile not once, but twice. Her first term was from 2006 to 2010, and her second term was from 2014 to 2018. Bachelet is an accomplished politician and a well-respected figure both nationally and internationally.

To provide more detailed reasoning, here are some additional points:

1. Michelle Bachelet`s background: Bachelet had a strong background in politics and public service before becoming Chile`s President. She comes from a politically active family, and her father, Alberto Bachelet, was an air force general who opposed the military dictatorship of Augusto Pinochet. Michelle Bachelet herself became involved in socialist politics and activism during her early years.

2. Bachelet`s path to the presidency: Bachelet`s journey to becoming Chile`s first woman President involved various political roles and achievements. Prior to assuming the presidency, she held positions such as Minister of Health and Minister of Defense in the Chilean government. Her experience and success in these roles helped establish her as a capable leader and earned her the support of the Chilean people.

3. Historical significance: Bachelet`s election as Chile`s first woman President marked a significant milestone in the country`s history. It shattered the gender barrier and opened the door for more women to pursue leadership positions in Chilean politics. Her presidency represented a step forward in gender equality and served as an inspiration for women in Chile and around the world.

4. Bachelet`s achievements: During her time as President, Bachelet implemented several progressive policies aimed at addressing social issues and reducing inequality. She focused on education reform, healthcare improvements, and strengthening social welfare programs. Additionally, she played a vital role in rebuilding Chile after the devastating earthquake and tsunami that struck the country in 2010.

In conclusion, Michelle Bachelet is Chile`s first woman President, having served two terms in office. Her election was a significant moment in Chilean history, breaking gender barriers and paving the way for more women to take on leadership roles. Bachelet`s accomplishments and dedication to social progress have left a lasting impact on Chile and its political landscape.