Christine Lagarde, the President of the European Central Bank, has resigned and is leaving.

Christine Lagarde, President of the European Central Bank, will resign on February 7, nine months before her term ends. She informed the Governing Council and European Council President António Costa about her decision. Originally set to serve until October 2027, her departure allows Emmanuel Macron to appoint her successor ahead of upcoming French elections. Costa expressed gratitude for Lagarde's commitment since November 2019 and announced the initiation of the successor appointment process. The new leader will be appointed following the procedures outlined in the EU's founding documents. Lagarde may potentially join the World Economic Forum next.