CNB Governor Zdeněk Tůma resigns as of 30 June 2010

The Governor of the Czech National Bank, Zdeněk Tůma, announced today that he is resigning from office with effect from 30 June 2010. Mr Tůma delivered his resignation letter to President Václav Klaus on the afternoon of Tuesday 13 April 2010.

Statement by Governor Zdeněk Tůma:
“My second six-year term of office was due to expire on 12 February 2011. The terms of office of most of the Bank Board members – those of the Governor, one Vice-Governor and two other Bank Board members – will expire on that date. The tendency to evaluate the Bank Board members’ actions and statements in the light of this change has naturally been increasing. On the basis of this and similar experience six years ago, I realise that it will be better for the Czech National Bank if the period of uncertainty connected with the changes in the Bank Board is as short as possible. Besides this, I think it is sensible for the Governor’s term of office in future to begin and end at a different time than those of the other Bank Board members. For me personally this also means that I can start thinking about my future professional career a few months earlier. For all these reasons, and given that the Czech National Bank is not currently facing any critical situation, I have decided to resign as of 30 June 2010.