President of the European Central Bank Christine Lagarde to step down in February
Christine Lagarde said she will leave the European Central Bank before her term ends in October 2027.
TL;DR
- Christine Lagarde will leave the European Central Bank on Feb. 7, nine months before her term was due to end.
- The ECB said her eight-year term was scheduled to run through Oct. 31, 2027.
- European leaders now face a succession process, while no successor has been selected.
Christine Lagarde will resign as president of the European Central Bank on Feb. 7, the ECB said Thursday. The departure comes nine months before the end of her term, which was scheduled to run through Oct. 31, 2027. [1] [2] [3]
Lagarde announced the decision publicly, saying it had been a source of pride to serve the institution. The announcement confirmed her departure date but did not name a successor. [2] [3]
The early exit opens the way for European leaders to choose a successor before France’s presidential election next year. The appointment is part of a wider set of senior ECB vacancies, according to the AP report. [2] [3]
The succession contest is now the next open question: the European Council said the selection process would begin immediately, but the reporting does not establish who will be chosen or when a final decision will be announced. [2]
Why it matters
The timing brings the ECB leadership choice forward and gives European governments an earlier window to negotiate the appointment. The announcement alone does not indicate a change in the bank’s monetary-policy direction.
Editor's note
The resignation date and term end are reported by AP and Axios; CNBC also reported the departure. The successor remains unselected in the cited coverage.