Frankfurt (Germany), 24 August (LaPresse) – The possible appointment of Christine Lagarde as president of the World Economic Forum (WEF), which has already been the subject of rumours in recent weeks, appears to be moving forward. According to the Neue Zürcher Zeitung (NZZ), the ECB President was put forward as a candidate during a meeting of the WEF’s board of directors in Cologny, near Geneva, and is reported to have expressed her willingness to take on the role. According to sources cited by the Swiss newspaper, Lagarde thanked the board members for their confidence and said she was “ready to serve”, meaning she was prepared to take on the role. Her candidacy was reportedly described as that of a “putative candidate”, or potential candidate. However, the board has reportedly not yet decided when Lagarde is due to take up the presidency. The WEF is currently led by Larry Fink, founder of BlackRock, and André Hoffmann, who are expected to continue chairing the annual Davos summit in January 2027 before stepping down later that year. Lagarde’s potential appointment would also have implications for the ECB. The French president’s term at the helm of the European Central Bank expires at the end of October 2027, and a move to the WEF before that date would mean an early departure from Frankfurt. The ECB president had previously dismissed rumours of a possible early departure; more recently, Lagarde stated that she would not leave the institution “before 2027”. However, the process to appoint a successor at the WEF is not yet complete. According to the NZZ, a group of three board members, including the former president of the Swiss National Bank and BlackRock vice-chairman Philipp Hildebrand, will be tasked with assessing any opposition to Lagarde’s candidacy. Some members are said to have expressed concerns about the selection process, which was initially intended to involve a broader search for both internal and external candidates. Lagarde has been a member of the WEF board for over 18 years and is said to have long been regarded by founder Klaus Schwab as an ideal candidate to lead the organisation. Her possible appointment, the NZZ emphasises, is not yet a foregone conclusion.
ECB, media: Lagarde ‘opens the door’ to the WEF; her candidacy is now under consideration by the board
Frankfurt (Germany), 24 August (LaPresse) – The possible appointment of Christine Lagarde as president of the World Economic Forum (WEF), which has already been the subject of rumours in recent weeks, appears to be moving forward. According to the Neue Zürcher Zeitung (NZZ), the ECB President was put forward as a candidate during a meeting of the WEF’s board of directors in Cologny, near Geneva, and is reported to have expressed her willingness to take on the role. According to sources cited by the Swiss newspaper, Lagarde thanked the board members for their confidence and said she was “ready to serve”, meaning she was prepared to take on the role. Her candidacy was reportedly described as that of a “putative candidate”, or potential candidate. However, the board has reportedly not yet decided when Lagarde is due to take up the presidency. The WEF is currently led by Larry Fink, founder of BlackRock, and André Hoffmann, who are expected to continue chairing the annual Davos summit in January 2027 before stepping down later that year. Lagarde’s potential appointment would also have implications for the ECB. The French president’s term at the helm of the European Central Bank expires at the end of October 2027, and a move to the WEF before that date would mean an early departure from Frankfurt. The ECB president had previously dismissed rumours of a possible early departure; more recently, Lagarde stated that she would not leave the institution “before 2027”. However, the process to appoint a successor at the WEF is not yet complete. According to the NZZ, a group of three board members, including the former president of the Swiss National Bank and BlackRock vice-chairman Philipp Hildebrand, will be tasked with assessing any opposition to Lagarde’s candidacy. Some members are said to have expressed concerns about the selection process, which was initially intended to involve a broader search for both internal and external candidates. Lagarde has been a member of the WEF board for over 18 years and is said to have long been regarded by founder Klaus Schwab as an ideal candidate to lead the organisation. Her possible appointment, the NZZ emphasises, is not yet a foregone conclusion.