François Villeroy de Galhau, governor of the Bank of France, at the Elysée Palace in Paris, December 11, 2018. LUDOVIC MARIN/AFP
In a move that took many by surprise, François Villeroy de Galhau, the governor of the Bank of France since November 1, 2015, announced on Monday, February 9, his decision to end his second term in June, ahead of schedule, as it was due to run in October 2027. The senior civil servant, who will turn 67 on February 24, has chosen to continue his career supporting at-risk young people. In June, he will take up the presidency of the Apprentis d'Auteuil foundation, succeeding Jean-Marc Sauvé, another senior civil servant.
"I made this important decision with complete personal independence," the governor wrote in a letter addressed the same day to Bank of France staff. "After nearly 11 years, it seems to me that I will have accomplished the bulk of my mission." First and foremost, a "victory over inflation," as he said on the BFM Business TV channel on Friday, February 6. The monetary cycle is closing, and the institution's 2028 strategic plan is nearing completion. "Together with the men and women of the Bank of France, we have stayed the course of stability, supported confidence through crises and we have transformed this major public institution," he wrote in his letter.
