Communication on the Selection of the President of the World Bank

Washington DC, May 29, 2007- There has been intense interest in the selection process for the next World Bank President, following the announcement of Mr. Wolfowitz’s resignation effective June 30, 2007. The Executive Directors have met to discuss matters related to the nomination and selection process for the next President of the World Bank.

The Executive Directors have prepared a profile of key qualities for nominees to guide the selection process. The Board believes it is essential for the next World Bank President to have:

• a proven track record of leadership;

• experience managing large, international organizations, a familiarity with the public sector and a willingness to tackle governance reform

• a firm commitment to development;

• a commitment to and appreciation for multilateral cooperation, and

• political objectivity and independence.

As the selection process gets underway, the Board expects an intensive process of formal and informal consultation with the Executive Directors on potential nominees. In addition, they noted that nominations may be made by any Executive Director of the Bank and that the Executive Director for the United States has informed them that the United States will be nominating a candidate.

The Board expects to receive nominations by no later than June 15, 2007 and to complete the process for the selection of the President of the Bank by June 30, 2007.

Source: World Bank

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