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 Gary Tobin
Assistant Secretary General, International & EU Division, Department of Finance |
Ms Ciara Delaney |
| Greece | Mr Michael Arghyrou
Chairman of the Council of Economic Advisors |
Mr Eleftherios Tserkezis |
| Spain | Mr Carlos San Basilio
Secretary General for the Treasury and Financial Policy |
Mr Enrique Ruiz de Villa Saiz |
| France | Mr Emmanuel Moulin
Director General of the Treasury |
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 |
Mr Marios Stephanides |
| Latvia | Ms Līga Klavina
Deputy State Secretary, Ministry of Finance |
Mr Nils Sakss |
| Lithuania | Mr Mindaugas Liutvinskas
Vice-Minister, Ministry of Finance |
Mr Darius Trakelis |
| Luxembourg | Mr Nima Ahmadzadeh
Director of Economic and Fiscal Affairs, Ministry of Finance |
Mr Tom Englaro |
| 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 João Nuno Mendes
Secretary of State for Finance |
Mr José Carlos Azevedo Pereira |
| 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 Juraj Toporčák |
| Finland | Ms Leena Mörttinen
Director of the Secretariat for EU Affairs |
Mr Jouni Sinivuori |