"Mr. Makhlouf is eminently qualified to perform the role of Governor of the Central Bank and the Government was pleased to support his nomination for reappointment. During his first term, Mr. Makhlouf introduced reforms and enhancements that have strengthened the Central Bank and will continue to positively impact its performance."
"Nevertheless the reappointment has come as a surprise, since previous governors of the Central Bank have only served one term. Philip Lane left the role in 2019, after four years, to take up a position as chief economist in the ECB. Before him, Patrick Honohan served one term from 2009, and he succeeded John Hurley who served from 2002 to 2009."
Gabriel Makhlouf has been reappointed as Governor of the Central Bank of Ireland for a second seven-year term beginning September 1, marking a departure from historical precedent where previous governors served only one term. The early reappointment decision was made to avoid delays from an international selection process before Ireland's EU presidency. Minister for Finance Simon Harris cited Makhlouf's qualifications and his successful reforms during his first term. At 66 years old, Makhlouf serves on the ECB's governing council and as Ireland's alternate IMF governor. His salary will reach €348,000 annually following approved pay increases for senior bank executives.
Read at Irish Independent
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