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European Central Bank transitions leadership as Boris Vujčić succeeds Luis de Guindos
Croatia's former central bank governor becomes the first ECB Executive Board member from a post-2004 EU accession state, bringing the digital euro into sharper focus.
The European Central Bank is getting new blood at the top. Boris Vujčić, Croatia’s longtime central bank governor, officially takes over as ECB Vice-President on 1 June 2026, replacing Spain’s Luis de Guindos after his eight-year non-renewable term concludes on 31 May.
Vujčić is the first person from a post-2004 EU accession country to sit on the ECB’s six-member Executive Board, the body that runs day-to-day operations at one of the world’s most powerful central banks.
A historic appointment with a long runway
The European Council formally appointed Vujčić on 19 March 2026. That followed a Eurogroup nomination process that kicked off in January and received European Parliament approval in March 2026.
Like his predecessor, Vujčić will serve a single eight-year non-renewable term.
Vujčić has led the Croatian National Bank since 2012, and his signature achievement was shepherding Croatia into the euro area in January 2023, making it the 20th member of the currency bloc.
De Guindos has served since June 2018. In interviews before his departure, he discussed ECB policy amid growth concerns and advocated for continued Spanish representation on the board.
The digital euro connection
De Guindos has suggested a possible issuance of the digital euro in 2029. Vujčić has publicly backed the digital euro as a complement to cash, not a replacement for it. De Guindos also noted progress on tokenized finance initiatives during his final months in office.
The digital euro project is currently in its preparation phase, which began in late 2023. A final decision on whether to actually issue the currency still lies ahead, but Vujčić’s eight-year term means he will almost certainly be the vice-president who oversees either its launch or its shelving.
Monetary policy continuity and what it means for markets
Both de Guindos and Vujčić have emphasized that ECB interest rate decisions remain data-dependent, with the bank watching inflation, growth, and employment figures before making moves rather than committing to a predetermined path.