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ECB President Christine Lagarde to Step Down in February 2027
Christine Lagarde is to leave the presidency of the European Central Bank on 7 February 2027, about nine months before her eight-year term was due to end, the ECB confirmed on Thursday.
The ECB offered no explanation for Lagarde's early departure. She notified both the ECB's Governing Council and European Council President António Costa of her intention to step down.
The Governing Council responded with a standing ovation, while Costa publicly thanked her for her service since she took office in November 2019.
Costa confirmed that the process to appoint her successor will begin immediately. The European Council is responsible for making the appointment by qualified majority vote, with EU finance ministers, the European Parliament and the Governing Council all expected to be consulted as part of that process.
Lagarde previously served as French Finance Minister and as Managing Director of the International Monetary Fund. Her tenure at the ECB has been shaped by historic interest rate decisions across the eurozone.
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