The Governing Council of the European Central Bank has named Greek central bank chief Yannis Stournaras as a member of the council’s audit committee, replacing Erkki Liikanen, the Bank of Greece said on Friday.
The audit committee assists the council on matters including financial information integrity, compliance with applicable laws, regulations and codes of conduct, internal controls oversight and the performance of audit functions.
The committee comprises four other members – Luis de Guindos, Josef Bonnici, Patrick Honohan and Ewald Nowotny. It will soon elect a new chairman, since Liikanen held that position, the Greek central bank said.
Stournaras replaces Liikanen, 68, who recently retired as governor of the Bank of Finland and is often mentioned as a potential compromise candidate to replace ECB President Mario Draghi when his term ends in late 2019.
Stournaras’s appointment takes effect immediately. [Reuters]