Executive Board of the European Central Bank

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.

The Executive Board consists of the President, the Vice-President and four other members. 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
Name Position Terms of office
Executive Board Christine Lagarde President 1 November 2019 31 October 2027
Luis de Guindos Vice-President 1 June 2018 31 May 2026
Philip R. Lane Member; Chief Economist 1 June 2019 31 May 2027
Fabio Panetta Member 1 January 2020 31 December 2027
Isabel Schnabel Member 1 January 2020 31 December 2027
Frank Elderson Member 15 December 2020 14 December 2028

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
Name State Term start Term end Tenure length Notes
Wim Duisenberg  Netherlands June 1, 1998 October 31, 2003 5 years, 152 days President
Christian Noyer  France June 1, 1998 May 31, 2002 3 years, 364 days Vice-President
Sirkka Hämäläinen  Finland June 1, 1998 May 31, 2003 4 years, 364 days
Eugenio Domingo Solans  Spain June 1, 1998 May 31, 2004 5 years, 365 days
Tommaso Padoa-Schioppa  Italy June 1, 1998 May 31, 2005 6 years, 364 days
Otmar Issing  Germany June 1, 1998 May 31, 2006 7 years, 364 days Chief Economist
Lucas Papademos  Greece June 1, 2002 May 31, 2010 7 years, 364 days Vice-President
Gertrude Tumpel-Gugerell  Austria June 1, 2003 May 31, 2011 7 years, 364 days
Jean-Claude Trichet  France November 1, 2003 October 31, 2011 7 years, 364 days President
José Manuel González-Paramo  Spain June 1, 2004 May 31, 2012 7 years, 365 days
Lorenzo Bini Smaghi  Italy June 1, 2005 December 31, 2011 6 years, 213 days
Jürgen Stark  Germany June 1, 2006 December 31, 2011 5 years, 213 days Chief Economist
Vítor Constâncio  Portugal June 1, 2010 May 31, 2018 7 years, 364 days Vice-President
Peter Praet  Belgium June 1, 2011 May 31, 2019 7 years, 364 days Chief Economist (2012-2019)
Mario Draghi  Italy November 1, 2011 October 31, 2019 7 years, 364 days President
Jörg Asmussen  Germany January 1, 2012 January 8, 2014 2 years, 7 days
Benoît Cœuré  France January 1, 2012 December 31, 2019 7 years, 364 days
Yves Mersch  Luxembourg December 15, 2012 December 14, 2020 7 years, 365 days
Sabine Lautenschläger  Germany January 27, 2014 October 31, 2019 5 years, 277 days
Luis de Guindos  Spain June 1, 2018 May 31, 2026 3 years, 196 days Vice-President
Philip R. Lane  Ireland June 1, 2019 May 31, 2027 2 years, 196 days Chief Economist
Christine Lagarde  France November 1, 2019 October 31, 2027 2 years, 43 days President
Fabio Panetta  Italy January 1, 2020 December 31, 2027 1 year, 347 days
Isabel Schnabel  Germany January 1, 2020 December 31, 2027 1 year, 347 days
Frank Elderson  Netherlands December 15, 2020 December 14, 2028 364 days

Succession of seats

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.
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