Competition policy in the European Union is moving toward a new phase. Max von Thun parses ideas from two recent documents outlining the future of competition in the EU—a report from former Italian Prime Minister Mario Draghi and a “Mission Letter” from European Commission President Ursula von der Leyen—to understand what questions competition chief Margrethe Vestager’s appointed replacement, Teresa Ribera, must address as she lays out her own vision for the future of competition policy in the EU.