Christine Lagarde to step down as ECB President Feb 7
European Central Bank President Christine Lagarde has informed the Governing Council and European Council President António Costa that she will step down from her position on February 7, 2027, about nine months before the end of her eight-year term, Qazinform News Agency reports.
Her successor will be appointed by the European Council following the nomination procedure set out in Article 283 of the Treaty on the Functioning of the European Union, according to ECB statement.
The ECB Governing Council expressed its gratitude to Lagarde and gave her a prolonged standing ovation.
"It has been a source of great pride to serve this institution. I thank all of those who have supported me on this journey over the past seven years," Lagarde wrote on X.
I have just informed my colleagues that I will step down as @ECB President on 7 February 2027. It has been a source of great pride to serve this institution. I thank all of those who have supported me on this journey over the past seven years. https://t.co/eSLLTaDAej
— Christine Lagarde (@Lagarde) October 29, 2026
Lagarde has been heading the ECB since November 2019. Her term was due to expire in October 2027.
As António Costa stated, the process for the appointment of Lagarde's successor will be initiated today and will proceed without delay, with a view to a timely decision by the European Council acting in its euro area composition, in accordance with the procedure set out in Article 283 (2) of the Treaty on the Functioning of the European Union.