Didier Reynders, the European Union’s justice commissioner, is poised to take over the antitrust beat from Margrethe Vestager when she steps aside to run for the top job at the European Investment Bank.
(Bloomberg) — Didier Reynders, the European Union’s justice commissioner, is poised to take over the antitrust beat from Margrethe Vestager when she steps aside to run for the top job at the European Investment Bank.
Reynders will take on the competition policy portfolio when her nomination to lead the EIB becomes formal as soon as this week, according to people familiar with the matter who spoke on condition of anonymity.
Vera Jourova, the commissioner for values and transparency, will be promoted from vice president to executive vice president, taking over Vestager’s role dealing with other institutions, the people added. The European Commission didn’t immediately respond to a request for comment.
Under EU rules, Vestager must take a temporary leave of absence when her bid to lead the bloc’s long-term lender becomes formal. That could be made permanent if she is confirmed as the new president of the bloc’s lending arm — a job scheduled to start on Jan. 1 following the departure of incumbent Werner Hoyer.
But she faces stiff competition for the EIB post from Nadia Calvino, Spain’s deputy prime minister and an ex-EU competition policy official. Former Italian finance minister Daniele Franco is also considered a front-runner.
EU member nations will approve the appointment and the decision could come as soon as mid-September when the bloc’s finance ministers meet in Spain to discuss the names currently on the table.
Reynders’ appointment was reported earlier by the Financial Times.
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