The Governor of the Bank of France, François Villeroy de Galhau, has announced his early resignation, which will take effect in June 2026, the bank confirmed on Monday.
Villeroy de Galhau’s second term was due to end in October 2027, meaning his departure comes around 18 months earlier than scheduled.
The resignation leaves French President Emmanuel Macron with the responsibility of appointing the next head of the country’s central bank.
In a statement, Villeroy de Galhau said he believes he has completed the core objectives of his mandate and cited personal reasons for stepping down. He plans to take up a new role leading the Fondation Apprentis d’Auteuil, a charity that supports vulnerable young people.
In a letter sent to Bank of France staff, he acknowledged that the decision may come as a surprise. Villeroy de Galhau has led the institution for nearly 11 years.
The timing of the resignation follows the approval of France’s 2026 budget, which was passed earlier this month after months of political uncertainty and legislative deadlock.
France’s prolonged budget standoff in late 2025 had unsettled financial markets and increased borrowing costs. Analysts say the governor’s decision to step down after the budget’s approval helped avoid further market disruption.
President Macron is now expected to begin the process of selecting a successor to lead the Bank of France during the final year of his presidency.
