Although there will be a permanent President of the European Council under the Lisbon Treaty, and although the new "Foreign Minister" (called differently in the Treaty but will have this function) will chair the EU Council on Foreign Affairs, article 16, paragraph 9 (TEU) clearly states that the EU Council (the Council of Ministers) will still be chaired by the rotating presidency:
The Presidency of Council configurations, other than that of Foreign Affairs, shall be held by Member State representatives in the Council on the basis of equal rotation, in accordance with the conditions established in accordance with Article 236 of the Treaty on the Functioning of the European Union.And Article 236 of the Treaty on the Functioning of the European Union says only:
The European Council shall adopt by a qualified majority:So under the Lisbon Treaty we will still have a rotating presidency chairing most of the Council compositions, and the European Council President will not replace this.
(a) a decision establishing the list of Council configurations, other than those of the General Affairs Council and of the Foreign Affairs Council, in accordance with Article 16(6) of the Treaty on European Union;
(b) a decision on the Presidency of Council configurations, other than that of Foreign Affairs, in accordance with Article 16(9) of the Treaty on European Union.