The Eurogroup named Boris Vujcic, Croatia’s central bank governor, as the new vice-president of the European Central Bank, taking the post after Luis de Guindos’s term ends in late May, with a June 1 start date expected.

Vujcic arrives with a strong reputation as a capable monetary policymaker, having played a pivotal role in Croatia’s euro adoption in 2023 and in its EU accession talks.

At 61, he holds a doctorate from the University of Zagreb’s Faculty of Economics and has led Croatia’s central bank since 2012, including earlier roles as head of research and deputy governor.

Final approval is anticipated to be formal, with European Parliament likely raising questions about gender parity but not blocking the nomination.

Earlier rounds saw Lithuania and Estonia pull their candidates, Rimantas Sadzius and Madis Muller, from consideration, narrowing the field.

Germany’s stance has been cautiously optimistic, with considerations of Northern European representation shaping the decision.

Some nominees faced withdrawals due to lack of alignment among large eurozone states and broader euro-area fragmentation, affecting final choices.

The six contenders represented a spectrum from centrist to conservative, largely drawn from central bank leadership; Rimantas Sadzius offered less public policy detail.

The decision emerged from a Eurogroup meeting in Brussels where a broader consensus process was evident and Centeno’s chances were viewed as slim.

Eurogroup president emphasized broad interest in six excellent candidates and underscored moving toward a single agreed candidate.

Other candidates who were rejected included Mario Centeno and Olli Rehn, while the final shortlist centered on Vujcic, Rehn, Muller, Sadzius, Kazaks, and others.

The final shortlist for the ECB vice-presidency highlighted Boris Vujcic of Croatia and Olli Rehn of Finland as primary contenders, with several others eliminated earlier.