Executive Board of the European Central Bank

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The Executive Board of the European Central Bank is the organ responsible for implementing monetary policy for the Eurozone in line with the guidelines and decisions taken by the Governing Council of the European Central Bank.

Contents

The executive board consists of the president, the vice-president and four other members, one of whom concurrently serves as ECB chief economist. All members are appointed by the European Council by qualified majority for a non-renewable eight-year term. As an exception, the officeholders appointed to the original board received staged terms so that one would be replaced each year. Under the ECB's rules board members do not represent a particular country, nor are they responsible for keeping track of economic conditions in one country. Instead, all board members are jointly responsible for monetary policy for the entire Euro area.

Current members

The current members of the ECB Executive Board are as follows: [1]

Composition of the Executive Board
NameStatePositionStartEnd
Christine Lagarde Flag of France.svg France President1 November 201931 October 2027
Luis de Guindos Flag of Spain.svg Spain Vice President1 June 201831 May 2026
Philip R. Lane Flag of Ireland.svg Ireland Member
Chief Economist
1 June 201931 May 2027
Isabel Schnabel Flag of Germany.svg Germany Member1 January 202031 December 2027
Frank Elderson Flag of the Netherlands.svg Netherlands Member15 December 202014 December 2028
Piero Cipollone Flag of Italy.svg Italy Member1 November 202331 October 2031

List of Board members

The following is a list of past and present members of the Executive Board of the European Central Bank. A member serves for a non renewable term of eight year. Since the ECB was established in 1998, the following people have served as Executive Board members: [2]

Status

  Denotes a current member
NameStateStartEndDurationDeparture reason
Wim Duisenberg Flag of the Netherlands.svg Netherlands 1 June 199831 October 20035 years, 152 daysResigned
Christian Noyer Flag of France.svg France 1 June 199831 May 20023 years, 364 daysTerm ended
Sirkka Hämäläinen Flag of Finland.svg Finland 1 June 199831 May 20034 years, 364 daysTerm ended
Eugenio Domingo Solans Flag of Spain.svg Spain 1 June 199831 May 20045 years, 365 daysTerm ended
Tommaso Padoa-Schioppa Flag of Italy.svg Italy 1 June 199831 May 20056 years, 364 daysTerm ended
Otmar Issing Flag of Germany.svg Germany 1 June 199831 May 20067 years, 364 daysTerm ended
Lucas Papademos Flag of Greece.svg Greece 1 June 200231 May 20107 years, 364 daysTerm ended
Gertrude Tumpel-Gugerell Flag of Austria.svg Austria 1 June 200331 May 20117 years, 364 daysTerm ended
Jean-Claude Trichet Flag of France.svg France 1 November 200331 October 20117 years, 364 daysTerm ended
José Manuel González-Paramo Flag of Spain.svg Spain 1 June 200431 May 20127 years, 365 daysTerm ended
Lorenzo Bini Smaghi Flag of Italy.svg Italy 1 June 200531 December 20116 years, 213 daysResigned
Jürgen Stark Flag of Germany.svg Germany 1 June 200631 December 20115 years, 213 daysResigned
Vítor Constâncio Flag of Portugal (official).svg Portugal 1 June 201031 May 20187 years, 364 daysTerm ended
Peter Praet Flag of Belgium (civil).svg Belgium 1 June 201131 May 20197 years, 364 daysTerm ended
Mario Draghi Flag of Italy.svg Italy 1 November 201131 October 20197 years, 364 daysTerm ended
Jörg Asmussen Flag of Germany.svg Germany 1 January 20128 January 20142 years, 7 daysResigned
Benoît Cœuré Flag of France.svg France 1 January 201231 December 20197 years, 364 daysTerm ended
Yves Mersch Flag of Luxembourg.svg Luxembourg 15 December 201214 December 20207 years, 365 daysTerm ended
Sabine Lautenschläger Flag of Germany.svg Germany 27 January 201431 October 20195 years, 277 daysResigned
Luis de Guindos Flag of Spain.svg Spain 1 June 201831 May 20267 years, 117 daysIncumbent
Philip R. Lane Flag of Ireland.svg Ireland 1 June 201931 May 20276 years, 117 daysIncumbent
Christine Lagarde Flag of France.svg France 1 November 201931 October 20275 years, 329 daysIncumbent
Fabio Panetta Flag of Italy.svg Italy 1 January 202031 October 20233 years, 303 daysResigned
Isabel Schnabel Flag of Germany.svg Germany 1 January 202031 December 20275 years, 268 daysIncumbent
Frank Elderson Flag of the Netherlands.svg Netherlands 15 December 202014 December 20284 years, 285 daysIncumbent
Piero Cipollone Flag of Italy.svg Italy 1 November 202331 October 20311 year, 329 daysIncumbent

Succession of seats

See also

References

  1. "Members of the Executive Board". ecb.europa.eu. December 15, 2020. Retrieved December 14, 2020.
  2. "Executive Board members – terms of office". ecb.europa.eu. December 15, 2020. Retrieved December 14, 2020.