Statement on the Decision of Vice-President Kristalina Georgieva to become Chief Executive Officer of the World Bank and to resign from the European Commission

Summary:

Kristalina Georgieva, European Commission's Vice-President responsible for Budget and Human Resources, announced on 28 October 2016 her decision to resign from her post in order to take up a new responsibility as Chief Executive Office (CEO) of the International Baml for Reconstruction and Development (IBRD) and the International Development Association (IDA), known collectively as the World Bank.

Further information:

Günther H. Oettinger was chosen by the President of the European Commission to succeed Ms Georgieva in her portfolio. A new European Commission from Bulgaria would need to be nominated at a later stage.

Analysts highlighted rumours of existing tension between Kristalina Georgieva and the Commission President's Chief of Staff. The decision was also announced upon her return to work following a failed candidacy for Secretary General of the United Nations. Others suggested that the move was natural given her previous work in a senior position within the World Bank and her passion for issues relating to global development.

• Primary Source

EurActiv, 28.10.16: Georgieva resigns to join World Bank http://www.euractiv.com/section/eu-priorities-2020/news/georgieva-resigns-to-join-world-bank/

Politico, 28.10.16: Kristalina Georgieva to quit Commission for World Bank job http://www.politico.eu/article/kristalina-georgieva-to-quit-european-commission-for-world-bank-job-bulgaria/

World Bank: Press Release, 28.10.16: Kristalina Georgieva Appointed Chief Executive Officer of IBRD/IDA http://www.worldbank.org/en/news/press-release/2016/10/28/kristalina-georgieva-appointed-chief-executive-officer-of-ibrd-ida

EurActiv, 31.10.16: Bulgaria’s Borissov wants the ecology or regional development Commissioner portfolio http://www.euractiv.com/section/elections/news/bulgarias-borissov-wants-ecology-or-regional-development-commissioner/

EurActiv, 02.11.16: Georgieva resigned from the Commission at very short notice http://www.euractiv.com/section/public-affairs/news/georgieva-resigned-from-the-commission-at-very-short-notice-source/

Politico, 30.11.16: Conflict of interest fears over Georgieva’s World Bank dealings http://www.politico.eu/article/conflict-of-interest-fears-over-georgievas-world-bank-dealings/

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