After serving for two years, Paul Wolfowitz resigned as president of the World Bank Group ending a protracted and tumultuous battle over his stewardship, sparked by a promotion he arranged for his companion.

May 18, 2007

Board of Executive Directors
The World Bank Group
1818 H Street, NW

Dear Members of the Board:

Regardless of the emotions that most of us are probably feeling right now, I believe we must move forward in a spirit of forgiveness, both for the sake of each of us as individuals and for the sake of Bank Group’s mission to serve the world’s poor. I assure you that it is in this spirit that I will proceed over the next six weeks. To that end after speaking with the Dean and Co-Dean, let me suggest the following transition plans which I hope you will find reassuring.

I have looked at the May-June Board schedule as well as international commitments and requests for meetings with the Office of the President. While the Board schedule is very busy, I am confident that the sessions can be handled well by the Managing Director (MD) with the relevant portfolio. If the Board so desires, I am happy to assist on the few pending strategic issues, such as the 2008 budget where I was deeply involved in decision making and might be helpful, but otherwise I would plan to leave the day-to-day work of Board meeting to the MDs.

Similarly, I believe they can manage most requests for outside meetings. There may be exceptions where relations with the Bank could be strengthened by my agreeing to meet with someone with whom I have had previous interactions, but will take the advice of the relevant vice president in doing so. As you might imagine, I have been flooded with phone calls from the exceptional people I have met over the past two years who have offered their support, many of whom want to see me before my departure. I intend to accommodate those requests but obviously, should policy matters arise, I would defer to the appropriate MD or vice president. I may make a farewell trip to Africa at the request of a number of leaders, but would consult with you prior to making any plans.

I do not plan to continue routine briefings on policy issues and would expect that the appropriate MD will make any required policy decisions in consultation with their senior management colleagues and the Board. I believe all country manager and director personnel have been completed for the Spring, so I have no expectation of being involved in these or any other personnel actions.

While there is administrative paper work and archiving to carry out, the most important assignment I feel I have ahead is to take the time to meet individually with staff who have been so loyal and effective in fulfilling the Bank’s mission. I owe them my personal thanks and appreciation.

If there are issues which arise which are not envisioned in this letter, I would consult the Board through the Dean and Co-Dean to seek guidance.

After reaching a difficult consensus yesterday, it is vitally important that we work together to restore calm and confidence and encourage the staff to focus on their important work. Please let me know if I can be of further help in fulfilling these goals or clarifying my thoughts on my transitions plans.

Sincerely,
Paul Wolfowitz