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World Bank Chief David Malpass Steps Down a Year Early In a LinkedIn post addressed as "Intention to Step Down as President", David Malpass shared his decision to step down from the position. His last acting day as the President will be June 30, 2023

By Paromita Gupta

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On Thursday, World Bank 13th President David Malpass announced his decision to step down from his position as the head of WB a year prior to his tenure ending in 2024. In a LinkedIn post addressed as "Intention to Step Down as President", Malpass shared "This afternoon, I shared with the World Bank Group's Board of Directors my intention to step down by the end of the World Bank's fiscal year. Serving as President of the World Bank Group has been my enormous honor and privilege. I am deeply grateful for the support of the Executive Directors, Officers, and staff across all five World Bank Group institutions."

The 66-year-old was elevated to the position in June 2019 after the former President of the United States, Donald Trump, nominated him to succeed Jim Yong Kim. Prior to the appointment, he served as the Under Secretary of the Treasury for international affairs.

His tenure as the head saw the organization combat global concerns such as COVID-19, the Russian invasion of Ukraine, and an economic slowdown. In September, he received massive backlash for his lack of confirmation on the acceptance of scientific agreement that the burning of fossil fuels contributed to the global warming concerns of the planet.

Some names that have surfaced to succeed him potentially include Samantha Power, Rajiv Sha, Minouche Shafik, and Wally Adeyemo.

Malpass's last acting day as the President will be June 30, 2023.

Paromita Gupta

Entrepreneur Staff

Features Writer with Entrepreneur India

Covering news and trends in AI and Metaverse segments. An avid book reader running her personal blog on the side. You may reach me at 
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