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World Bank head Wolfowitz to quit

Friday, 18 May 2007, 02:21 GMT 03:21 UK

Quote:

Paul Wolfowitz is to quit as president of the World Bank following a bitter promotion row involving his girlfriend.

After lengthy talks with the bank's board, Mr Wolfowitz said he would quit the global lending body on 30 June.

He had faced widespread calls for his resignation after being accused of a conflict of interest over a pay rise given to ex-bank employee Shaha Riza.

The White House, which had backed Mr Wolfowitz, said President George W Bush reluctantly accepted his decision.

Mr Bush's former deputy defence secretary joined the World Bank in 2005.

The bank said it would start an immediate search for his successor.

One year in the job - two years pay.

Nice work if you can get it.

UJ

In 2007, the Washington Post reported that Riza's salary had increased from $132,660 to $193,590 per year, during her relationship with Wolfowitz.

Whether Paul Wolfowitz had a personal relationship with Ms. Risa and that caused him to promote her and give her a raise or not, her salary was in line with her position.

This salary isn't exorbitant and is about what upper management in just about any company makes.

The world bank itself calls his impropriety mainly a "number of mistakes". It's sort of funny, because Arab press has made a tabloid point of a neo-con dating an Arab.

Last year, the ethics committee thought this matter didn't require further investigation, but I think given the worsening political climate Wolfowitz stepped down.

It's not even certain that Riza, who is quite accomplished, didn't warrant a 200K salary. It just got handled badly.