**Summary:**
European Council Decision (EU) 2023/2454, adopted on October 27, 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 appointment of Mr. Cipollone is for a term of eight years, commencing on November 1, 2023. The European Council based its decision on Article 283(2) of the Treaty on the Functioning of the European Union, the recommendation of the Council of the European Union (OJ C 334, 22.9.2023, p. 1), the opinion of the European Parliament (Opinion of 17 October 2023 not yet published in the Official Journal), and the opinion of the Governing Council of the European Central Bank (OJ C, C/2023/99, 2.10.2023). The Council affirms that Mr. Cipollone meets the requirements stipulated in Article 283(2) of the Treaty. The decision entered into force on October 27, 2023. The President of the Council, C. Michel, signed the decision.
Key Entities Referenced
European Council: The institution of the European Union that defines the general political direction and priorities.
European Central Bank (ECB): The central bank of the Eurozone countries, responsible for monetary policy.
Executive Board of the European Central Bank: One of the decision-making bodies of the ECB, 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.
Fabio PANETTA: Former member of the Executive Board of the European Central Bank.
Piero CIPOLLONE: Appointed member of the Executive Board of the European Central Bank.
Council of the European Union: An institution of the European Union where ministers from each member state meet to discuss, amend and adopt laws, and coordinate policies.
European Parliament: The parliamentary body of the European Union.
Official Journal EN
of the European Union L series
2023/2454 30.10.2023
EUROPEAN COUNCIL DECISION (EU) 2023/2454
of 27 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 Brussels, 27 October 2023.
For the Council
The President
C. MICHEL
(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/2023/2454/oj 1/1