The European Commission on Wednesday set up a task force, headed by former EC President Michel Barnier, to prepare and conduct negotiations on Britain’s exit from the European Union.

Barnier was appointed on July 27 as chief negotiator for the process of Britain’s departure from the EU. Additionally, the EU appointed the Germany’s Sabine Weyand as deputy chief negotiator, Efe reported.

Both will assume the new position on October 1.

As head of the task force, Barnier reports directly to the president of the EC and will be supported by a team of experts, the EU executive said in a statement.

In particular, the taskforce will coordinate the work of the EC on all strategic, operational, legal and financial levels in the negotiations with London.

"This new Task Force will be composed of the Commission’s best and brightest. They will help Michel Barnier to conduct the negotiations with the United Kingdom effectively, benefiting from the deep knowledge and rich experience available across the whole Commission," said EC President Jean-Claude Juncker, in a statement.