French Central Bank Governor Resigns, Macron to Pick Successor

François Villeroy de Galhau has announced his early resignation as Governor of the Bank of France, effective June 2026, 18 months before his term ends. The move shifts the responsibility of selecting his successor to President Emmanuel Macron, allowing him to appoint someone aligned with his pro-European and centrist economic vision. Villeroy de Galhau cites personal reasons, specifically leading the Fondation Apprentis d'Auteuil, a charity for vulnerable youth. The timing is strategic, following the approval of France's 2026 budget, ensuring his departure doesn't trigger market panic. Villeroy de Galhau has led the Bank of France for nearly 11 years, navigating significant economic challenges, including the Covid-19 pandemic and Ukraine war. His peers praise his leadership and commitment to European cooperation.