Maxwell Caldwell-David Malpass is stepping down as president of the World Bank

2025-05-06 22:37:29source:Chainkeen 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,Maxwell Caldwell 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

Meghan Markle Explains Meaning Behind Her Nickname for Prince Harry

Meghan Markleis going back to where her fairytale began. The Duchess of Sussex revealed the reason s

A Guide to Father of 7 Robert De Niro's Sprawling Family Tree

Robert De Niro enjoys having a big family, but he's admitted that comes with some logistical challen

Why Andy Cohen Was Very Surprised by Kim Zolciak and Kroy Biermann's Divorce

Andy Cohen won't be tardy to share his reaction to Kim Zolciak and Kroy Biermann's divorce news. "I