Christine Lagarde will leave her post as president of the European Central Bank in February, nine months before the end of her eight‑year term.
The announcement means Lagarde will step down earlier than the scheduled conclusion of her mandate, which began in 2019 and was set to run until 2027.
Her departure will prompt the ECB to begin a search for a new chief executive, a process that will involve the bank’s Governing Council and the European Parliament.
The European Central Bank, which sets monetary policy for the eurozone, has been led by Lagarde since 2019, making her the first woman to hold the position.
Details of Lagarde’s successor and the exact date of her resignation are yet to be confirmed by the ECB.
<small>Source: Al Jazeera — read the original story there.</small>
