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
Wolfowitz Meets With World Bank Board After Release Of Critical Report   (Getty Images)
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(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.