Key Takeaways
- The World Economic Forum could appoint Christine Lagarde as its next chair as soon as November.
- Lagarde’s term as European Central Bank chief is set to end in October 2027, but she may leave early.
- The move aims to avoid potential difficulties in negotiations if far-right leader Marine Le Pen wins the French presidency.
The World Economic Forum (WEF) could appoint Christine Lagarde as its next chair as early as next month, according to sources close to the organization. Lagarde, currently the European Central Bank (ECB) chief, is expected to step down early, triggering a wider reshuffle at the top of the ECB.
Lagarde’s term at the ECB is scheduled to end in October 2027, but her early departure could give European Union leaders a chance to pick a new ECB President before the French spring presidential election, which opinion polls suggest could be won by the far-right candidate Marine Le Pen.
The WEF’s Board of Trustees, which includes Lagarde herself, will meet on November 2. If elected, she would step down from her ECB role and take on the WEF chairmanship, potentially paving the way for a deal involving two other senior ECB roles.
Two of the sources close to the organization said the board could use the meeting to set a date for a vote that would enable Lagarde to appear as the designated chair when the WEF’s annual meeting takes place in January in Davos. The meeting will discuss global economic and financial issues.
The WEF board is currently co-chaired by BlackRock CEO Larry Fink and Roche Vice Chairman Andre Hoffmann, with other members including public-sector figures such as International Monetary Fund Managing Director Kristalina Georgieva and leading business chiefs like Salesforce’s Marc Benioff and Siemens’ Jim Hagemann Snabe.
Lagarde, who is attending the IMF and World Bank annual meetings in Bangkok this week, has stated she will remain at the ECB until next year but has not committed to staying until her term formally ends in October.
Her early departure would open a second vacancy on the ECB’s six-member Executive Board after Isabel Schnabel’s resignation last month. Chief Economist Philip Lane is also due to step down in May.
EU officials say the three appointments could be agreed as part of a package deal, ensuring a smooth transition and avoiding potential difficulties in negotiations if Marine Le Pen were to win the French presidency.
