Report: Lagarde could lead WEF in 2027
European Central Bank (ECB) chief Christine Lagarde could take over the presidency of the World Economic Forum (WEF) at some point in 2027, according to a report from Swiss newspaper NZZ published on Sunday. The report, cited by Euronews and The Manila Times, said Lagarde was described as a "putative candidate" to lead the organization during a WEF board meeting near Geneva this week.
According to sources cited by NZZ, Lagarde told board members she was "ready to serve." She also thanked the members of the 28-strong board for their confidence in her, the newspaper reported. Lagarde, who has been a member of the WEF board for several terms, is currently president of the ECB, a role she has held since 2019.
The WEF board is co-chaired by André Hoffmann, vice chairman of Roche, and Larry Fink, CEO of BlackRock. The two are navigating a leadership transition after founder Klaus Schwab stepped down last year. At the board meeting, Singapore's President Tharman Shanmugaratnam said the succession to Fink and Hoffmann should be resolved internally, as suitable candidates were available, NZZ reported.
Timing of handover unclear
The board did not determine exactly when Lagarde should take over the presidency, according to NZZ, which said the only point of agreement was that Fink and Hoffmann should still chair the annual Davos meeting in January 2027. The WEF did not immediately reply to a request for comment from Reuters, and the ECB did not immediately respond to requests from Euronews.
Lagarde's eight-year term as ECB president runs out at the end of October 2027. She said last year she was determined to complete her term at the ECB, following speculation she might leave early. There has been mounting speculation over her future in recent months, partly fuelled by her own comments on possibly participating in the French presidential election campaign. Speaking to Euronews in July, however, Lagarde ruled herself out of running for the French presidency, saying: "I'm not a candidate for anything, but I'm very keen that Europe is protected, that Europe is the framework within which member states operate, including France."