Zoellick okayed as next World Bank chiefBy JEANNINE AVERSA, AP Economics Writer
12 minutes ago
WASHINGTON - Robert Zoellick, a seasoned player in international
circles, won the unanimous approval of the World Bank's board on
Monday to become the poverty-fighting institution's next president.
Zoellick will succeed Paul Wolfowitz, whose last day is Saturday,
ending a stormy two-year tenure. The new president will take the
reins Sunday, the first day of a five-year term.
Wolfowitz courted controversy from the start because of his role
in the Iraq war when he was deputy defense secretary. However,
it was his role in arranging a hefty pay raise for Shaha Riza, his
girlfriend and bank employee, that forced his upcoming departure.
That prompted a staff revolt and calls by Europeans and others
for Wolfowitz to resign.
President Bush turned to Zoellick — his former top trade envoy
and No. 2 diplomat_ to the heal wounds and mend the relationships
strained by the Wolfowitz episode.
-snip-