What Entrepreneurs can Learn from Jim Yong Kim's Resignation

Kim has now decided to venture into the private sector for his strong belief in carbon-free business and industries

By
You're reading Entrepreneur Asia Pacific, an international franchise of Entrepreneur Media.

 

In a completely unexpected move, the start of 2019 saw a powerful resignation of the World Bank Group’s president Jim Yong Kim, which sparked immediate speculations in media.

Kim had been due to serve three more years as the head of the bank, after his nomination to a second five-year term by former US President Barack Obama. 

In a statement released on January 8, which gave no official reason for his departure, Kim said he planned to join a private firm focusing on delivering infrastructure investments in developing economies. According to the press release, Kim will leave office with effect from February 1.

His ouster from the World Bank rolled out a lot of speculations that said the decision had been made by Kim after his disagreements with the Trump administration over the Bank's plans to curtail investment in carbon intensive infrastructure and increase its focus on low carbon projects.

In fact, after stepping down, Kim wrote a letter to his staff at World Bank that his decision to move had been driven by a desire to have a larger impact on global challenges, citing climate change as an example.

Kim has now decided to venture into the private sector for his strong belief in carbon-free business and industries.

Watch what inspired Kim to resign and to follow his calling.

Komal Nathani

Written By

A firm believer of hard work and patience. Love to cover stories that hold a potential to change the momentum of business world. Currently, a part of all-women web team of Entrepreneur’s Asia Pacific edition to jig the wheel of business journalism!