CNB Bank Board line-up changes

The line-up of the CNB Bank Board changes on 13 February 2023. Jan Kubíček and Jan Procházka have been appointed as CNB Bank Board members for a term of six years. Current Bank Board Member Jan Frait will become a Deputy Governor.

The new members will replace Oldřich Dědek and Deputy Governor Marek Mora, whose six-year terms will end on 12 February 2023.

From 13 February 2023, the seven-member Bank Board, headed by Governor Aleš Michl, comprises Deputy Governor Eva Zamrazilová, Deputy Governor Jan Frait and members Tomáš Holub, Karina Kubelková, Jan Kubíček and Jan Procházka. "The CNB's absolute priority is to substantially reduce inflation. Judging from my experience with the new Bank Board since July and from the CVs - and above all the expertise - of the new members, excellent conditions are in place for the Czech National Bank to remain credible and to fulfil its mandate", said CNB Governor Aleš Michl on the appointment of the new Bank Board members in December 2022.

The Bank Board is the supreme governing body of the CNB. It decides upon the fundamental monetary and macroprudential policy measures of the Czech National Bank and measures in the area of financial market supervision. The Bank Board will decide on the division of responsibilities of the Bank Board members in overseeing the CNB's organisational units at one of its upcoming meetings.

The Governor, or a Deputy Governor nominated by him, chairs the meetings of the Bank Board. The Bank Board acts collectively, by a simple majority of the votes cast. In the event of a tie, the chairperson has the casting vote. All Bank Board members, Deputy Governors and the Governor are appointed by the President of the Czech Republic for a term of six years. None of them may hold the position more than twice.

Petra Krmelová
Director of the Communications Division and CNB Spokesperson