Bank of France governor François Villeroy de Galhau to step down in June

Monday 09 February 2026 - 15:00

By: Sahili Aya

Bank of France governor François Villeroy de Galhau to step down in June

François Villeroy de Galhau, governor of the Bank of France, has announced that he will leave his post at the beginning of June, several years before the end of his mandate, in a move that has taken many observers by surprise.

In a statement released by the French central bank, Villeroy de Galhau described his nearly eleven years at the helm of the institution as an honor and a defining chapter of his public service, notably in support of the euro and financial stability. Appointed governor in 2015 and renewed for a six-year term in 2021, he was originally expected to remain in office until the end of 2027.

Following his departure, Villeroy de Galhau is set to take over the presidency of the Fondation Apprentis d’Auteuil, a major organization dedicated to child protection and social support. He said this new responsibility reflects his desire to continue serving the public interest in a key social sector.

In a message addressed to Bank of France staff, the outgoing governor stressed that his decision was made independently and had been shared in advance with President Emmanuel Macron, the French government and European Central Bank President Christine Lagarde. He added that the transition period until June would allow for an orderly and calm succession process.

During his tenure, Villeroy de Galhau guided the Bank of France through a decade marked by major economic upheavals, including the Covid-19 crisis, geopolitical tensions and shifts in global monetary policy. He also led a significant internal restructuring, reducing the institution’s workforce and modernizing its operations, while maintaining a focus on price stability and prudent public finances.

The announcement has prompted tributes from senior government officials, who praised his commitment, independence and steady leadership at a time of profound economic transformation in France and across the eurozone.