Each Governor appoints one Director and one alternate Director from among people of high competence in economic and financial matters. The Member of the European Commission in charge of economic and monetary affairs and the President of the ECB may also appoint one observer each.
The Board of Directors ensure that the ESM is run in accordance with its Treaty and by-laws. It takes decisions as provided for by the ESM Treaty or decisions delegated to it by the Board of Governors. Decisions are taken by qualified majority, unless otherwise stated by the ESM Treaty.
The Board of Directors meetings are chaired by the ESM Managing Director.
| ESM Board of Directors | Alternate Director | |
|---|---|---|
| Belgium | Mr Steven Costers
Counselor General, Finance Ministry |
Mr Peter Van Der Stoelen |
| Germany | Mr Jörg Kukies
State Secretary, Bundesministerium der Finanzen |
Mr Thomas Westphal |
| Estonia | Mr Märten Ross
Deputy Secretary General for Financial Policy and External Relations Head of EU and International Affairs Department, Ministry of Finance |
Mr Andres Kuningas |
| Ireland | Mr Nicholas O'Brien
Assistant Secretary General, International & EU Division, Department of Finance |
Mr Gerard Keown |
| Greece | Mr Michael Arghyrou
Chairman of the Council of Economic Advisors |
Mr Panayiotis Nicolaides |
| Spain | Mr Carlos San Basilio
Secretary General for the Treasury and Financial Policy |
Ms Carla Díaz Álvarez de Toledo |
| France | Ms Odile Renaud Basso
Deputy Chief Executive Officer, Director of Savings Funds |
Mr Alexandre Baclet |
| Italy | Mr Alessandro Rivera
Director General of the Treasury Ministry of Economy and Finance |
Mr Luigi Maria Disanto |
| Cyprus | Mr George Panteli
Director of Economic Research and European Union Affairs Directorate, Ministry of Finance |
Mrs Sotia Hajispyrou |
| Latvia | Ms Līga Klavina
Deputy State Secretary, Ministry of Finance |
Mr Nils Sakss |
| Lithuania | Ms Miglė Tuskienė
Vice-Minister, Ministry of Finance |
Mr Darius Trakelis |
| Luxembourg | Ms Isabelle Goubin
Directeur du Trésor, Ministère des Finances |
Mr Nima Ahmadzadeh |
| Malta | Mr Alfred Camilleri
Permanent Secretary, Ministry of Finance |
Mr Ivan-Carl Saliba |
| Netherlands | Mr Christiaan Rebergen
Treasurer-general, Ministry of Finance |
Mr Michel Heijdra |
| Austria | Mr Harald Waiglein
Director General for Economic Policy and Financial Markets, Federal Ministry of Finance |
Mr Paul Schieder |
| Portugal | Mr Ricardo Mourinho Félix
Secretary of State for Treasury and Finance |
Ms Ana Isabel Lacerda |
| Slovenia | Ms Katja Lautar
Head of Department for General Government Analysis and Coordination of Economic Policies, Ministry of Finance |
Mr Žiga Lavrič |
| Slovakia | Mr Peter Paluš
Head of the Financial Unit at the Permanent Representation of Slovakia to the European Union |
Mr Andrej Furik |
| Finland | Mr Tuomas Saarenheimo
Permanent Under-Secretary, Ministry of Finance |
Mr Seppo Tanninen |