Statement on the Decision of Vice-President Kristalina Georgieva to become Chief Executive Officer of the World Bank and to resign from the European Commission

EU News 350/2016

Brussels, 28 October 2016

Vice-President Kristalina Georgieva, responsible for Budget and Human Resources, has informed European Commission President Juncker of her decision to resign from her post as Member of the European Commission in order to take up a new responsibility, as of 2 January 2017, as Chief Executive Officer (CEO) of the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA), known collectively as the World Bank.

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In line with the Interinstitutional Framework Agreement on relations between the European Parliament and the European Commission, President Juncker has informed Martin Schulz, President of the European Parliament, of Kristalina Georgieva's resignation and of his intention to transfer her portfolio to Günther H. Oettinger. This should allow for the relevant parliamentary consultation to take place (paragraph 7 of the Interinstitutional Framework Agreement). Kristalina Georgieva's resignation will take effect at the latest on 31 December 2016 (midnight), depending notably on the development of the ongoing budgetary negotiations. Until then, President Juncker has asked Vice-President Georgieva to work closely with Günther H. Oettinger in order to allow for an orderly transition of responsibilities and the portfolio.

As regards the vacancy caused by the resignation of Kristalina Georgieva in the European Commission, Article 246 of the Treaty on the Functioning of the European Union (TFEU) stipulates that this vacancy shall be filled for the remainder of her term of office by a Member of Bulgarian nationality, appointed by the Council, by common accord with the President of the Commission and after consulting the European Parliament. President Juncker stands ready to discuss swiftly with the Bulgarian Prime Minister Boyko Borissov potential names for a new Commissioner of Bulgarian nationality as well as the allocation of a possible portfolio.

Source and additional information:
http://europa.eu/rapid/press-release_STATEMENT-16-3576_en.htm?locale=en

Twitter: @KGeorgievaEU URL

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