European Central Bank President Christine Lagarde has announced she will step down on 7 February 2027, about nine months before her term was due to end in October 2027.
The ECB said on Thursday, 29 October 2026, that Lagarde had informed its Governing Council and European Council President António Costa of her decision. Lagarde has led the central bank since November 2019.
European Council President António Costa said the process to appoint her successor would be initiated immediately and proceed without delay, with a successor to be appointed by the European Council. No successor has been named.
The former central bank governors of the Netherlands and Spain, Klaas Knot and Pablo Hernández de Cos, are seen as frontrunners to replace her, according to Reuters.
In a short video message, Lagarde said: “I leave this institution with a sense of good work done, and an ECB that is fit for the future.”
The announcement ends months of speculation about Lagarde’s future and opens a closely watched race to lead the central bank for the euro area.
Source: Reuters (https://www.reuters.com/business/finance/ecb-president-lagarde-resigns-effective-feb-7-2026-10-29/)
