ECB adopts opinion on appointment of new Executive Board member

The Governing Council of the European Central Bank (ECB) today adopted an opinion on a recommendation from the Council of the European Union on the appointment of a member of the ECB’s Executive Board.

The Governing Council had no objection to the proposed candidate, Frank Elderson, who is a person of recognised standing and professional experience in monetary or banking matters, as required by Article 283(2) of the Treaty on the Functioning of the European Union. Mr Elderson currently serves as an Executive Director of Supervision at De Nederlandsche Bank and is a member of the ECB’s Supervisory Board. Mr Elderson also chairs the Network of Central Banks and Supervisors for Greening the Financial System.

Following the Governing Council’s opinion and an opinion of the European Parliament, the new member of the Executive Board will be appointed by the European Council. The Governing Council’s opinion, which will be published shortly in the Official Journal of the European Union, will be made available on the ECB’s website in all official EU languages.

Mr Elderson will serve a non-renewable eight-year term, succeeding Yves Mersch, whose term will end on 14 December 2020.