Christine Lagarde to Step Down as ECB President in February 2027

Christine Lagarde will leave her position as President of the European Central Bank (ECB) on February 7, 2027, nearly nine months before the end of her current term, which was originally scheduled to conclude on October 31, 2027. The announcement, made on Thursday, October 29, officially kicks off the race to succeed her at the helm of one of the most influential institutions in the European economy.

The ECB President informed the Governing Council and António Costa, President of the European Council, of her decision. The nomination process for her successor must begin immediately, with the final appointment to be made by the European Council in accordance with the European Union treaties.

Lagarde assumed office in November 2019, following her tenure as Managing Director of the International Monetary Fund (IMF). During her time leading the ECB, she has steered monetary policy for the eurozone through several periods of significant turbulence, including the COVID-19 pandemic, the war in Ukraine, the surge in energy prices, and the subsequent inflationary spike.