WASHINGTON, January 7, 2019—The World Bank’s Board of Executive Directors today released the following statement:
“The Board of Executive Directors has been informed today by the President of the World Bank Group, Jim Yong Kim, that he will be stepping down from his position as of February 1, 2019. President Kim has successfully led the World Bank Group for the last six years. We thank him for his leadership. The organization has become financially stronger and more responsive to the evolving global challenges and the needs of its clients.
The Board will immediately start the process for selecting the next President. In the meantime, we have full confidence in senior management to carry out the World Bank Group's business and implement the commitments it has made to its shareholders. We have asked the World Bank CEO, Kristalina Georgieva, to step in as interim World Bank Group President effective February 1.
We look forward to working with Ms. Georgieva and the rest of the senior team.”
Note: This page was updated on January 7 at 4:20pm ET to change "Executive Board" to "Board of Executive Directors".