SignalHub:David Malpass is stepping down as president of the World Bank

2025-05-04 06:33:57source:SCA Communitycategory:Invest

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,SignalHub 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:Invest

Recommend

Meet the volunteers risking their lives to deliver Christmas gifts to children in Haiti

Haiti has been racked by political instabilityand intensifying, deadly gang violence.  Amid a Federa

A riding student is shot by her Olympian trainer. Will he be found not guilty by reason of insanity?

This story originally aired on Sept. 10, 2022. It was updated on June 10, 2023.In 2019, former Olymp

Hillary Clinton’s Choice of Kaine as VP Tilts Ticket Toward Political Center

Hillary Clinton’s choice of Sen. Tim Kaine as her running mate was largely considered a safe politic