François Villeroy de Galhau to Step Down as Banque de France Governor in June 2026

François Villeroy de Galhau, the governor of the Banque de France, announced on February 9, 2026, that he will resign from his position in early June 2026, ahead of the scheduled end of his term in 2027. This unexpected decision brings to a close nearly eleven years of leadership at the helm of France's central bank and the eurozone's monetary efforts.

Villeroy de Galhau expressed pride in his tenure, calling it "the honor of my public career". He will transition to a new role as president of the Fondation Apprentis d’Auteuil, an organization dedicated to child protection, succeeding Jean-Marc Sauvé. This move aligns with his enduring commitment to public service outside the financial sector.

During his term since November 2015 and reappointment in 2021, the governor navigated numerous significant economic challenges, including the global Covid-19 pandemic, geopolitical tensions such as the war in Ukraine, and prior uncertainties during the Trump presidency. His leadership period also saw a major restructuring of the Banque de France, featuring a workforce reduction of nearly 30% and the initiation of a new banknote printing facility.

His decision to step down early was made independently and communicated to President Emmanuel Macron, the French government, and European Central Bank President Christine Lagarde. Economy Minister Roland Lescure publicly praised Villeroy de Galhau for his dedication and service to economic stability, noting his role in skillfully guiding France through transformative economic periods.

Despite the challenges faced, Villeroy de Galhau emphasized the pride he takes in the achievements accomplished during his governance. His departure marks a significant transition for the Banque de France as it prepares for new leadership while continuing to uphold its critical role in France's financial system and the broader eurozone economy.