**Summary:**
European Council Decision (EU) 2019/508, adopted on March 22, 2019, appoints Mr. Philip R. Lane as a member of the Executive Board of the European Central Bank (ECB). This decision follows the expiration of Mr. Peter Praet's term on May 31, 2019, necessitating the appointment of a new member. The decision is based on Article 283(2) of the Treaty on the Functioning of the European Union and takes into consideration the recommendation of the Council of the European Union, the opinion of the European Parliament (delivered on March 14, 2019), and the opinion of the Governing Council of the European Central Bank (delivered on March 6, 2019). Mr. Lane's term of office is set for eight years, commencing on June 1, 2019. The decision entered into force on March 22, 2019. The decision was made in Brussels by the European Council, under the President D. Tusk.
Key Entities Referenced
European Union: A political and economic union of member states located primarily in Europe.
European Council: A collective body that defines the overall political direction and priorities of the European Union.
Executive Board of the European Central Bank: One of the decision-making bodies of the European Central Bank, responsible for the day-to-day management of the ECB.
Treaty on the Functioning of the European Union: One of the primary treaties of the European Union, outlining its scope and functions.
Council of the European Union: A body composed of government ministers from each EU member state.
European Parliament: The directly elected parliamentary body of the European Union.
Governing Council of the European Central Bank: The main decision-making body of the European Central Bank.
Philip R. LANE: Appointed as a member of the Executive Board of the European Central Bank.
L 85/18 EN Official Journal of the European Union 27.3.2019
DECISIONS
EUROPEAN COUNCIL DECISION (EU) 2019/508
of 22 March 2019
appointing a member of the Executive Board of the European Central Bank
THE EUROPEAN COUNCIL,
Having regard to the Treaty on the Functioning of the European Union, and in particular Article 283(2),
Having regard to the recommendation of the Council of the European Union (1),
Having regard to the opinion of the European Parliament (2),
Having regard to the opinion of the Governing Council of the European Central Bank (3),
Whereas:
(1) The term of office of Mr Peter PRAET, member of the Executive Board of the European Central Bank, expires on
31 May 2019. It is therefore necessary to appoint a new member of the Executive Board of the European Central
Bank.
(2) The European Council wishes to appoint Mr Philip R. LANE, who, in its view, fulfils all the requirements set out
in Article 283(2) of the Treaty,
HAS ADOPTED THIS DECISION:
Article 1
Mr Philip R. LANE is hereby appointed a member of the Executive Board of the European Central Bank for a term of
office of eight years as from 1 June 2019.
Article 2
This Decision shall enter into force on the date of its adoption.
Done at Brussels, 22 March 2019.
For the European Council
The President
D. TUSK
(1) OJ C 60, 15.2.2019, p. 1.
(2) Opinion delivered on 14 March 2019 (not yet published in the Official Journal).
(3) Opinion delivered on 6 March 2019 (not yet published in the Official Journal).