Christine Lagarde to leave presidency of the European Central Bank in February
ECB President Christine Lagarde announces her early resignation eight months before the end of her term, as procedures to select her successor begin.
Translated by Qiyas from السياسة — Original source
French ECB President Christine Lagarde announced on Thursday her departure from the post in early February, approximately eight months before the end of her official term.
In a statement issued by the bank at its headquarters in Frankfurt, Lagarde said she would step down on February 7, 2027, and that she had informed her colleagues at the bank of her decision about eight months before her term was set to expire.
She added that it had been a great honor to serve this European institution, expressing her gratitude to all who had supported her over the past seven years.
Lagarde did not specify the reasons for her early departure in her letter, while the European Central Bank announced the start of procedures to select her successor to ensure a smooth leadership transition.
Among the prominent candidates for the position, German media have mentioned former Dutch Central Bank President Klaas Knot, Bank for International Settlements President Pablo Hernández de Cos, and German Central Bank President Joachim Nagel.
Lagarde assumed the post in 2019 and led the bank through crises including the coronavirus pandemic, the surge in energy prices, and inflation that approached 11 percent in 2022 due to the war in Ukraine.
