Christine Lagarde, president of the European Central Bank (ECB), has announced plans to step down on February 7, 2027, nearly nine months before the scheduled end of her eight-year tenure.
Gatekeepers News reports that Lagarde disclosed her decision in a video posted on her X account on Thursday, expressing pride in her service to the European financial 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.”
The ECB president said she was confident of leaving the institution well-positioned to address future challenges, particularly its responsibilities for maintaining 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,” Lagarde said.
The ECB also confirmed on Thursday that Lagarde had formally informed its Governing Council and António Costa, president of the European Council, of her decision to leave office on February 7, 2027.
The bank said her successor would be appointed by the European Council in accordance with the European Union’s established nomination process.
Lagarde assumed office as ECB president in November 2019, succeeding Mario Draghi. Her eight-year term was originally scheduled to expire in October 2027.
