Lagarde announces February departure from European Central Bank
By Staff Writer · Published 10/29/2026, 9:07:12 AM ET
Christine Lagarde in the portrait published with her official ECB biography.
European Central Bank · Official image source · ECB reuse terms — source acknowledgement requiredThe ECB president says she will step down February 7, 2027. European leaders will appoint her successor through the EU nomination process.
Christine Lagarde plans to leave the presidency of the European Central Bank on February 7, 2027, the bank announced Thursday, October 29.
Lagarde notified the ECB’s Governing Council and European Council President António Costa of her planned departure. The announcement did not name a successor or explain her decision.
Costa said in a separate October 29 statement that the process to appoint Lagarde’s successor would begin that day. He called for a timely decision but did not announce a selection date.
The European Council will make the appointment under Article 283 of the Treaty on the Functioning of the European Union. Its official explanation sets out several stages: euro-area governments propose candidates, the Eurogroup agrees on one, and the Council makes a recommendation. The European Parliament and ECB Governing Council are consulted before the European Council takes its appointing decision.
What it means
February 7 is the planned departure date, not an immediate vacancy. Costa has announced an October 29 start to the succession process, but neither statement identifies a successor or a date for the final choice. The ECB Governing Council remains responsible for interest-rate and other monetary-policy decisions.
Source
This State & Nation summary is based on European Central Bank’s original release, dated 2026-10-29. The reporting and statistics above are attributed to that publication.