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3mo ago

Bank of France Governor Villeroy de Galhau to Leave in June for Apprentis d’Auteuil

The early departure gives President Emmanuel Macron the prerogative to choose a successor before 2027.

Le gouverneur de la Banque de France, François Villeroy de Galhau, prononce un discours dans la salle dorée de la Banque de France, située dans l'hôtel de Toulouse, à Paris, le 12 janvier 2026.
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[Kirill KUDRYAVTSEV / AFP]
Le gouverneur de la Banque de France, François Villeroy de Galhau, au Forum économique mondial de Davos (Suisse), le 21 janvier 2026.

Overview

  • François Villeroy de Galhau announced he will step down at the start of June 2026, more than a year before his term was due to end in late 2027, after informing Emmanuel Macron and ECB President Christine Lagarde days earlier.
  • He will become president of the Fondation Apprentis d’Auteuil, succeeding Jean‑Marc Sauvé, and will serve in the role on a voluntary basis.
  • He framed the move as a personal decision taken in complete independence and said the timeline allows for an orderly succession.
  • Reporting stresses continuity for euro‑area policy because rates are set at the ECB, with Villeroy de Galhau continuing to participate in Governing Council decisions until his departure.
  • Initial reactions included praise from Christine Lagarde and Germany’s Joachim Nagel, and coverage highlighted his decade‑long overhaul of the Banque de France, while speculation about successors centers on figures such as Agnès Bénassy‑Quéré, Laurence Boone, Benoît Cœuré and Emmanuel Moulin.