Robert Zoellick, who has held top jobs in the Treasury and State departments under George Bush, is the White House’s choice to be the next World Bank president.
US President Bush announced the decision today.
Zoellick, 53, would succeed Paul Wolfowitz, who is stepping down June 30 after findings by a special bank panel that he broke bank rules when he arranged a hefty compensation package in 2005 for his girlfriend, Shaha Riza, a bank employee.
The controversy led to calls for Wolfowitz to resign from the poverty-fighting institution.
A seasoned veteran of politics both inside Washington and on the international stage, Zoellick is known for pulling facts and figures off the top of his head. Bush’s selection of Zoellick must be approved by the World Bank’s 24-member board.