Lagarde resigns early as ECB president, effective February 7

Christine Lagarde has told the European Central Bank’s Governing Council and European Council President António Costa that she will leave the ECB presidency on 7 February 2027. The bank confirmed her decision on 29 October. Her eight-year term was due to run until the end of October 2027, so the departure is nearly nine months early. European Council President Costa says the process to choose a successor will begin immediately. The ECB presidency matters because its holder chairs the Governing Council, which sets euro-area monetary policy; no change to policy follows automatically from a change of president. [Reuters reports](https://www.usnews.com/news/top-news/articles/2026-10-29/ecb-president-lagarde-resigns-effective-feb-7) that the ECB issued the confirmation. Lagarde has not given a reason for leaving early. Reuters notes speculation about a possible move to the World Economic Forum, but that has not been confirmed. [DW reports](https://www.dw.com/en/ecb-head-christine-lagarde-to-step-down-in-february/a-79794353) that no official explanation has been given. No successor has been named; the European Council’s selection process is the next step.