Margrethe Vestager is Stepping Aside to Bid on a New Job

European Competition (EC) Commissioner Margrethe Vestager announced today that she is stepping down temporarily so she can pursue a new job as President of the Management Committee of the European Investment Bank (EIB).

“Executive Vice-President Vestager has informed President von der Leyen about her nomination as an official candidate by the Danish government for the position of President of the Management Committee of the European Investment Bank and requested an unpaid leave for the duration of the campaign,” the announcement reads. “The President has granted the unpaid leave to Executive Vice-President Vestager underlining that during that period the relevant provisions of the Treaties and the Code of Conduct for the Members of the Commission continue to apply.”

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During her temporary absence, EC Justice commissioner Didier Reynders will assume Vestager’s duties. And if Vestager gets the new position—she is apparently a leading candidate—Reynders will continue in that capacity until the EU elections in June 2024.

As Commissioner over the past decade, Vestager has been a vocal advocate for antitrust regulation in the EU and has led the push to rein in Big Tech, launching multiple investigations into the illegal business practices of Amazon, Apple, Google, Microsoft, and others. But she has been involved in any number of other legal actions involving firms such as Alstom, Illumina, Telifonica, and many others.

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