World Bank Group president Jim Yong Kim is leaving his post long before his term expires.
On Monday, Kim told World Bank Group employees he'd made the "unexpected" choice to join the private sector. His resignation will take effect Feb. 1, with World Bank CEO Kristalina Georgieva taking over as interim president, per the Financial Times.
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Under Kim, the World Bank aimed to "end extreme poverty by 2030" and "boost shared prosperity," he wrote in his resignation letter. He'll now join a firm focused on "building infrastructure in developing countries." Trump will likely appoint Kim's successor, as the World Bank's leader is usually American, Bloomberg notes. Read Kim's resignation statement below. Kathryn Krawczyk
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