The World Economic Forum (WEF) could appoint Christine Lagarde as its next chair as soon as next month, four people close to the organisation told Reuters, meaning she would step down early as European Central Bank chief and trigger a wider reshuffle at the top of the ECB.
Lagarde’s ECB term is scheduled to end in October 2027. Leaving early would give European Union leaders a chance to pick a new ECB president before France’s spring presidential election, which opinion polls suggest the far-right could win, and could pave the way for a deal involving two other senior ECB roles.
The WEF’s board of trustees, which includes Lagarde herself, was due to meet on November 2 and could elect her as its next chair, said the people close to the organisation, who spoke on condition of anonymity due to the sensitivity of the matter.
No final decision has been taken yet, they said.
A spokesperson for the WEF said the forum could not confirm when the next full board of trustees meeting would take place, but that the aim was to hold one before the end of the year.
Two of the people said the board could also 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, where political and business leaders gather to discuss global economic and financial issues.
They cautioned that Lagarde’s election was not certain but said the 70-year-old former French finance minister had broad support from the board, which lists 27 members on its website.
The ECB declined to comment.
Either timetable would leave enough time for a new ECB president to clear all the formal hurdles that come with EU appointments well before the end of French President Emmanuel Macron’s term in May. Based in Geneva, the WEF board is currently co-chaired by BlackRock chief executive officer Larry Fink and Roche vice chairman Andre Hoffmann, who assumed the role after founder Klaus Schwab stepped down last year.
&uuid=(email))