**Summary:**
European Council Decision (EU) 2023/2433, dated October 24, 2023, appoints Mr. Piero Cipollone as a member of the Executive Board of the European Central Bank (ECB). This decision follows the resignation of Mr. Fabio Panetta, effective November 1, 2023, after serving on the board since January 1, 2020. The decision, based on Article 283(2) of the Treaty on the Functioning of the European Union, reflects the European Council's assessment that Mr. Cipollone meets all the necessary requirements for the position. Mr. Cipollone's term of office is set for eight years, commencing on November 1, 2023. The decision took effect on October 24, 2023.
Key Entities Referenced
European Council: The institution of the European Union that defines the general political direction and priorities of the EU.
European Central Bank (ECB): The central bank of the Eurozone, responsible for the monetary policy of the Eurozone.
Treaty on the Functioning of the European Union: One of the primary treaties of the European Union, outlining its scope, function, and organization.
Council of the European Union: A component of the EU legislative branch, where ministers from each member state meet to adopt laws and coordinate policies.
European Parliament: The parliamentary body of the European Union that shares legislative power with the Council of the European Union.
Governing Council of the European Central Bank: The main decision-making body of the ECB.
Fabio PANETTA: Former member of the Executive Board of the European Central Bank (ECB) who resigned.
Piero CIPOLLONE: Appointed member of the Executive Board of the European Central Bank.
Official Journal EN
of the European Union L series
2023/2433 27.10.2023
EUROPEAN COUNCIL DECISION (EU) 2023/2433
of 24 October 2023
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) Mr Fabio PANETTA was appointed member of the Executive Board of the European Central Bank (ECB) for a term of
office of eight years from 1 January 2020. On 12 July 2023, the President of the ECB informed the President of the
European Council of Mr Fabio Panetta’s decision to resign from his position with effect from 1 November 2023.
(2) It is therefore necessary to appoint a new member of the Executive Board of the ECB.
(3) The European Council wishes to appoint Mr Piero CIPOLLONE, who, in its view, fulfils all the requirements set out in
Article 283(2) of the Treaty,
HAS ADOPTED THIS DECISION:
Article 1
Mr Piero CIPOLLONE is hereby appointed member of the Executive Board of the European Central Bank for a term of office
of eight years from 1 November 2023.
Article 2
This Decision shall enter into force on the date of its adoption.
Done at Luxembourg, 24 October 2023.
For the Council
The President
P. NAVARRO RÍOS
(1) OJ C 334, 22.9.2023, p. 1.
(2) Opinion of 17 October 2023 (not yet published in the Official Journal).
(3) OJ C, C/2023/99, 2.10.2023, ELI: http://data.europa.eu/eli/C/2023/99/oj.
ELI: http://data.europa.eu/eli/dec/2023/2433/oj 1/1