NATO’s current Secretary General has been elected as Governor of the Central Bank of Norway

Jens Stoltenberg has been appointed head of the Bank of Norway. He will step down as NATO Secretary General at the end of September.

CEO of the Norwegian bank is expected to be replaced on March 1. Earlier, however, Stoltenberg noted he would remain in office until the end of September, when his term as NATO secretary general expires.

From March to September, the Norwegian Central Bank is headed by an interim governor. The task will be handed over to Ida Volden Baxe, Deputy Governor of the Bank of Norway, who was Stoltenberg's main rival in the race for central bank governor.

Jens Stoltenberg is an economist and former Norwegian prime minister. He has been serving NATO Secretary General since October 2014. Stoltenberg agreed to run for governor of the Norwegian Central Bank in mid-December.