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The Governing Council had no objection to the proposed candidate, Philip Lane, 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 Lane currently serves as Governor of the Central Bank of Ireland and is a member of the ECB’s Governing Council.
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.
Once appointed, Mr Lane will succeed Peter Praet, whose eight-year term as Executive Board member ends on 31 May 2019.