Ov Finance-David Malpass is stepping down as president of the World Bank

2025-04-30 22:59:35source:Phaninc Exchangecategory:Stocks

David Malpass has decided to step down as president of the World Bank before his five-year term expires. He says he will leave at the end of June.

Appointed by then-President Trump in 2019,Ov Finance his tenure was shaped by the economic fallout from the COVID-19 pandemic and the war in Ukraine. Malpass' career has spanned government and Wall Street.

He recently faced backlash and calls for his removal over comments he made in September about the climate.

At an event during Climate Week NYC, he was asked if he accepted "the scientific consensus that the manmade burning of fossil fuels is rapidly and dangerously warming the planet."

"I don't even know," Malpass replied. "I'm not a scientist."

Treasury Secretary Janet Yellen said in a statement that the U.S., which customarily picks the president of the World Bank, is looking forward to a "swift nomination process" for Malpass' successor.

More:Stocks

Recommend

The city of Chicago is ordered to pay nearly $80M for a police chase that killed a 10

CHICAGO (AP) — A jury awarded nearly $80 million to the family of a 10-year-old Chicago girl who was

California Gov. Gavin Newsom signs bills to enhance the state’s protections for LGBTQ+ people

SACRAMENTO, Calif. (AP) — California Gov. Gavin Newsom signed several bills Saturday aimed at bolste

Mosquito populations surge in parts of California after tropical storms and triple-digit heat

VENTURA, Calif. — Potent winter storms, summer heat, and tropical storm Hilary have bred a surge of