WEF could appoint Lagarde as early as November, sources say

The World Economic Forum (WEF) is reportedly considering appointing Christine Lagarde as its next chair as early as November, according to four sources close to the organization. This move would mean Lagarde would step down early from her position as European Central Bank (ECB) chief, triggering a reshuffle at the top of the ECB.

Her ECB term is set to end in October 2027. By leaving early, Lagarde could allow European Union leaders to choose a new ECB President before France's spring presidential election, where the far-right could potentially win. The WEF's Board of Trustees, which includes Lagarde, is scheduled to meet on November 2 and could elect her as their next chair.

However, the final decision has not been made yet. Instead, the board might use the meeting to set a date for a vote, allowing Lagarde to serve as the designated chair when the WEF's annual meeting takes place in January in Davos. Lagarde's election is not guaranteed, but she has received broad support from the board, which consists of 27 members.

The timing of her exit would provide enough time for a new ECB President to clear all formal EU appointment hurdles before the end of French President Emmanuel Macron's term in May. Some European political circles express concern that negotiations over Lagarde's successor could be more challenging if far-right leader Marine Le Pen were to win the French presidency.

The WEF board is currently co-chaired by BlackRock Chief Executive Larry Fink and Roche Vice Chairman Andre Hoffmann, with other members including IMF Managing Director Kristalina Georgieva, Jordan's Queen Rania, and business leaders like Salesforce's Marc Benioff and Siemens' Jim Hagemann Snabe. Lagarde has stated she will remain at the ECB until next year but has not committed to staying until her term ends in October.

Her departure would create a second vacancy on the ECB's six-member Executive Board, following Isabel Schnabel's recent resignation. Chief Economist Philip Lane is also set to step down in May. EU officials suggest that the three appointments could be agreed upon as part of a package deal among member states.