Indra Nooyi, the former Chief Executive Officer (CEO,) of the aerated beverage company PepsiCo, is likely to be the President of the World Bank, located in the United States (U.S.) The other candidates likely to be nominated to head the World Bank are David Malpass, a U.S. Treasury Department official and Ray Washburne, the CEO of Overseas Private Investment Corp.
Ivanka Trump, the daughter of Donald Trump, the President of the U.S., recommended Indra Nooyi as one of the candidates for the vacant post of the President of the World Bank.
Jim Yong Kim, the current President of the World Bank, announced his decision to step down as the President, after which the post fell vacant.
Mr. Kim will serve as the President of the World Bank till the 1st of February, 2019. Although his tenure was originally supposed to end in 2022, he is going to join a private infrastructure investment firm, due to which he resigned from his post.
According to a report by The New York Times, Indra Nooyi “has been courted as an administration ally by Ivanka Trump, the President’s eldest daughter who is playing a role in the selection of a nominee.”
The committee responsible for the selection of the next President of the World Bank comprises Ivanka Trump, the senior advisor of the White House, Steven Mnuchin, the United States Secretary of Treasury, and the acting White House Chief of Staff, Mick Mulvaney.
However, the final decision regarding the new President of the World Bank will be taken by the Bank’s Board.