Christine Lagarde told the ECB Governing Council and European Council President António Costa on Thursday, 29 October 2026, that she will step down as President of the European Central Bank on 7 February 2027. Her exit triggers the appointment process for a new head of the eurozone's central bank.
What the ECB announced
The ECB confirmed the decision in an official press release published on Thursday. The Governing Council thanked Lagarde and gave her a long standing ovation, according to the same release.
Lagarde announced the move herself in a post on X: "I have just informed my colleagues that I will step down as @ECB President on 7 February 2027." The ECB release gives no reason for the departure.
- Announcement date: Thursday, 29 October 2026
- Departure date: 7 February 2027
- Formally informed: the ECB Governing Council and European Council President António Costa
- Gap between announcement and exit: 101 days
How the successor is chosen
The successor will be appointed by the European Council, following the nomination process set out in Article 283 of the Treaty on the Functioning of the European Union (TFEU), according to the ECB release. The decision sits with the European Council, not the central bank.
The release points to the EU Council page on appointments to the ECB Executive Board, which describes the procedure for appointing the president.
Item | Detail |
|---|---|
Announcement date | 29 October 2026 |
Departure date | 7 February 2027 |
Days left in office | 101 |
Who appoints the successor | European Council |
Legal basis | Article 283 TFEU |
What the release does not say
- Reason for leaving: not stated
- Successor's name: the ECB put forward none
- Appointment timeline: not published
- Lagarde's plans after 7 February 2027: not mentioned
What it means for you
Until 7 February 2027, Lagarde remains ECB President and continues to chair the Governing Council. Monetary policy decisions in that window are taken under her mandate.
The new president takes over the ECB's open files from 7 February 2027. Until the European Council makes its nomination, the Article 283 TFEU procedure is the only official reference point.