European Central Bank (ECB) President Christine Lagarde will leave office on February 7, 2027, bringing her leadership of the eurozone’s monetary authority to an end about eight months before her tenure was due to expire in October.
Channels Television reported that the ECB confirmed the decision on Thursday, October 29, after Lagarde notified its Governing Council and European Council President António Costa. The institution said her replacement would be selected through the established European Union appointment process.
Costa announced that the succession procedure would begin immediately, expressing appreciation for Lagarde’s service since she assumed office in November 2019. He said her leadership had helped the euro area navigate the COVID-19 pandemic, the war in Ukraine, energy supply disruptions and inflationary pressures.
Her early departure is also expected to influence the timing of the leadership transition in Europe’s financial institutions. It comes ahead of France’s presidential election scheduled for April 2027, allowing European leaders to pursue the ECB succession process before the vote.
Lagarde previously served as managing director of the International Monetary Fund and France’s finance minister before taking charge of the ECB. Her tenure included the economic disruption caused by the pandemic and a surge in prices following Russia’s invasion of Ukraine in 2022.
She has also been linked to speculation about a possible future leadership role at the World Economic Forum, which convenes political and business leaders annually in Davos, Switzerland. However, no confirmed appointment to the organisation was announced alongside the ECB’s statement.
The European Council will appoint Lagarde’s successor under the EU treaty provisions governing the central bank’s executive leadership. The selection process is expected to proceed ahead of her departure in February 2027.
