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Jürgen Stark Resigns From His Position

Jürgen Stark, Member of the Executive Board and Governing Council of the European Central Bank informed President Jean-Claude Trichet on Friday that, for personal reasons, he will resign from his position prior to the end of his term of office on 31 May 2014.

According to an official statement, Stark will stay on in his current position until a successor is appointed, which, according to the appointment procedure, will be by the end of this year. He has been a Member of the Executive Board and Governing Council since 1 June 2006. 

Having been informed by Jürgen Stark of his decision to resign for personal reasons, President Jean-Claude Trichet thanks him wholeheartedly for his outstanding contribution to European unity over many years, said ECB. 

Having worked with Jürgen Stark for almost 20 years, he expresses particular gratitude for his exceptional and unwavering dedication as a member of the Executive Board and Governing Council for more than five years.

Earlier, Reuters reported that Jürgen Stark would step down from his post due to a conflict over the ECBs bond buying program.
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