Lagarde announces she is leaving the presidency of the ECB on February 7

Christine Lagarde, President of the European Central Bank (ECB), has announced she will step down from her position on February 7, around eight months before her term was set to end. She will be the first ECB President not to serve the full eight-year non-renewable term. Lagarde expressed her gratitude to those who supported her during her seven-year tenure in a video on her social media.

She has been ECB President since November 2019, previously serving as Managing Director of the International Monetary Fund from 2011 to 2019.