NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Thursday, August 1, 2013

Two top executives at the World Bank are set to leave the institution this year in a move at a crucial time for the bank’s evolving focus on poverty reduction in the next decade.

Caroline Anstey, current managing director, and senior vice president for change management Pamela Cox will step down after the member countries’ meeting in October. Anstey and Cox have worked at the bank for 18 and 17 years, respectively.

The changes at the top — which foreshadow looming shakeups in mid-level management — were communicated to the staff in an email from President Jim Yong Kim.

“As we move from design to implementation, a realignment of responsibilities among senior management is needed to take forward the next phase of our change program,” Kim said in the email, a copy of which was obtained by Bloomberg. “We have made some important decisions, and with today’s announcement, we have the leadership team that will deliver the results we need.”