The European Central Bank’s Governing Council has tapped Greek Central Bank Governor Yannis Stournaras to sit on the Council’s Audit Committee, effective immediately.
The remit of the committee is to ensure the integrity of financial information, the oversight of internal controls, the compliance with applicable laws, regulations and codes of conduct, and the performance of audit functions.
He is replacing Erkki Likanen, a former Governor of the Bank of Finland, who has been touted as a potential candidate to replace Mario Draghi.
The Audit Committee’s members include Luis Guindos, Josef Bonnici, Patrick Honohan, Ewald Nowotny, and now Stournaras, who will select a new head the committee, as Likanen is stepping down from the post.
