Christine Lagarde, president of the European Central Bank (ECB), says she will step down from the role on February 7, 2027, nearly nine months before the end of her term.
Lagarde announced her decision in a video posted on her X
account on Thursday, saying she was proud of her service to the institution.
“I have just informed my colleagues and staff at the
European Central Bank that I will be stepping down with effect from February 7,
2027, after a monetary policy Governing Council,” she said.
“It has been a great pride and a huge privilege to serve
this institution, and I want to thank all those who have contributed,
supported, and delivered on the mission that we have in Europe.”
Lagarde expressed belief in leaving the institution prepared
for the future, highlighting its responsibility to maintain price and financial
stability.
“To be a rock, be solid, deliver price stability, financial
stability, and I think that I leave this institution with a sense of good work
done and an ECB that was built for the future,” she said.
The ECB confirmed on Thursday that Lagarde had informed its
governing council and António Costa, president of the European Council, of her
decision to leave on February 7, 2027.
According to the ECB, her successor will be appointed by the
European Council under the bloc’s established nomination process.
Lagarde took office as ECB president in November 2019. Her
eight-year term was scheduled to end in October 2027.
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