ECB: Villeroy To Step Down As Banque de France Governor In Early June

Banque de France Governor Villeroy has announced that he will step down in early June, over a year before his term ends. La Tribune first reported the news ahead of Villeroy's official announcement. From the story: 

• "According to our information, the Governor of the Bank of France will leave office on June 1, 2026, while his term ends in the fall of 2027, after the presidential and legislative elections.
• "Following his departure, François Villeroy de Galhau, who turned 67 on February 24, will take over as president of the Apprentis d'Auteuil foundation."
• "Emmanuel Moulin's name is circulating as a possible successor."

Headlines from Bloomberg confirming the news:

• "*BANK OF FRANCE GOVERNOR VILLEROY TO STEP DOWN IN EARLY JUNE"
• "*VILLEROY TO STEP DOWN MORE THAN A YEAR BEFORE MANDATE ENDS"
• "*VILLEROY HAS INFORMED MACRON, ECB'S LAGARDE OF HIS DECISION"
• "*VILLEROY SAYS DECISION PERSONAL, LEAVING TO HEAD FOUNDATION""

Note that Villeroy had emerged as one of the most dovish Governing Council members in recent months, warning of greater downside inflation risks relative to upside risks.

Background on Emmanuel Moulin via Wikipedia: "A French civil servant who has been serving as secretary general of the presidency under Emmanuel Macron since 2025. From January to September 2024, he served as chief of staff to prime minister Gabriel Attal. From 2020 to 2024, he served as director general of the treasury.From 2017 to 2020, he served as chief of staff to minister of finance Bruno Le Maire."

• The article doesn't provide any more colour on whether Moulin, if appointed, would begin a new term as Governor or serve the rest of Villeroy's term.