Christine Lagarde to resign as president of the European Central Bank in February 2027

On October 29, 2026, Christine Lagarde announced her decision to resign as president of the European Central Bank (ECB), effective February 7, 2027. This decision comes nine months before the official conclusion of her term in October 2027. Lagarde, who has led the institution since 2019, communicated her intent to the ECB Governing Council and the President of the European Council, Antonio Costa.

The European Council has formally initiated the successor selection process, following the guidelines set forth in Article 283 of the Treaty on the Functioning of the European Union. This process involves nominations by Eurozone member states and subsequent consultation with the European Parliament and the ECB Governing Council. While some reports speculated that her early departure might be linked to the French presidential elections scheduled for April 2027, the primary focus remains on ensuring a smooth transition of leadership to maintain monetary stability.

In her video announcement, Lagarde appeared with bandages on her face, which she clarified were due to a minor surgical procedure for skin cancer performed earlier in the week. She urged the public to follow medical advice and prioritize skin health checks.