Christine Lagarde formally submitted her resignation as IMF managing director today (July 16), with effect from September 12.
On July 2, Lagarde relinquished her responsibilities after the Council of the European Union nominated her to become the next president of the European Central Bank. She had led the IMF since July 2011.
The IMF’s executive board accepted Lagarde’s resignation praising her contribution to the institution. “Her legacy of achievements has made a lasting imprint on the Fund