Leadership
The President of the Bank, currently Jim Yong Kim, is responsible for chairing the meetings of the Boards of Directors and for overall management of the Bank. Traditionally, the Bank President has always been a US citizen nominated by the United States, the largest shareholder in the bank. The nominee is subject to confirmation by the Board of Executive Directors, to serve for a five-year, renewable term. While most World Bank presidents have had banking experience, some have not.
The vice presidents of the Bank are its principal managers, in charge of regions, sectors, networks and functions. There are two Executive Vice Presidents, three Senior Vice Presidents, and 24 Vice Presidents.
The Boards of Directors consist of the World Bank Group President and 25 Executive Directors. The President is the presiding officer, and ordinarily has no vote except a deciding vote in case of an equal division. The Executive Directors as individuals cannot exercise any power nor commit or represent the Bank unless specifically authorized by the Boards to do so. With the term beginning 1 November 2010, the number of Executive Directors increased by one, to 25.
Read more about this topic: World Bank Publications
Famous quotes containing the word leadership:
“This I do know and can say to you: Our country is in more danger now than at any time since the Declaration of Independence. We don’t dare follow the Lindberghs, Wheelers and Nyes, casting suspicion, sowing discord around the leadership of Franklin D. Roosevelt. We don’t want revolution among ourselves.”
—Lyndon Baines Johnson (1908–1973)
“The liberal wing of the feminist movement may have improved the lives of its middle- and upper-class constituency—indeed, 1992 was the Year of the White Middle Class Woman—but since the leadership of this faction of the feminist movement has singled out black men as the meta-enemy of women, these women represent one of the most serious threats to black male well-being since the Klan.”
—Ishmael Reed (b. 1938)