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Wolfowitz Resigns From World Bank

White House yields; speculation on successor already lively

By M. Morris,  Newser Staff

Posted May 17, 2007 5:59 PM CDT

(Newser) – Paul Wolfowitz will leave the World Bank on June 30, capping a tumultuous two years for the development institution and its beleaguered president. Wolfowitz's tenure was marked by controversy from day one, when he assumed the office under the cloud of the Iraq war, until today, when a drawn-out ethics scandal finally drove him from office.

At the end, the US stood virtually alone in its support of Wolfowitz, who violated the bank's code of conduct in his handling of a job transfer and salary increase for his girlfriend, Shaha Riza. In the long run, his lasting legacy may be the end of the tradition that the US designates the president of the bank.

Wolfowitz Meets With World Bank Board After Release Of Critical Report
Wolfowitz Meets With World Bank Board After Release Of Critical Report   (Getty Images)
World Bank President Paul Wolfowitz, looks on during a press...
World Bank President Paul Wolfowitz, looks on during a press...   (Getty Images (by Event))
World Bank President Paul Wolfowitz departs his home in Chevy Chase, Md., Wednesday, May 16, 2007. Wolfowitz, who is accused by a special bank panel of breaking conflict-of-interest rules, maintains that he acted in good faith in arranging a generous pay package for his girlfriend. He waged a vigorous fight...
World Bank President Paul Wolfowitz departs his home in Chevy Chase, Md., Wednesday, May 16, 2007. Wolfowitz, who is accused by a special bank panel of breaking conflict-of-interest rules, maintains that...   (Associated Press)
World Bank President Paul Wolfowitz departs his home in Chevy Chase, Md., in this May 9, 2007 file photo. Wolfowitz broke bank rules in arranging a hefty compensation package for his girlfriend, a situation that has caused a crisis in the leadership at the institution, according to a report released...
World Bank President Paul Wolfowitz departs his home in Chevy Chase, Md., in this May 9, 2007 file photo. Wolfowitz broke bank rules in arranging a hefty compensation package for his girlfriend, a situation...   (Associated Press)
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