Christine Lagarde To Resign In February

GRAND RAPIDS, MI. - European Central Bank (ECB) President Christine Lagarde announced her resignation on Thursday, October 29, 2026. She will step down from her position on February 7, 2027, nine months before her eight-year term was scheduled to conclude in October 2027. Lagarde informed the ECB's Governing Council and European Council President António Costa of her decision.

The ECB's Governing Council thanked Lagarde and gave her a standing ovation. Lagarde's tenure as ECB president began in November 2019. During her term, she navigated the challenges of the COVID-19 pandemic, the war in Ukraine, and subsequent inflationary pressures.

Lagarde's departure creates an opportunity for European leaders to select a successor before the French presidential election in April 2027. The terms of Chief Economist Philip Lane and Executive Board member Isabel Schnabel also end in 2027. European leaders aim to reach an agreement on appointments for these three key positions before a summit meeting on December 17-18, 2026. Klaas Knot and Pablo Hernández de Cos are considered leading candidates to succeed Lagarde.