Embattled World Bank President Paul Wolfowitz will resign at the end of June, his leadership undermined by the generous compensation he arranged for his girlfriend.
His departure was announced late Thursday by the World Bank board.
Wolfowitz's departure ends a two-year run at the development bank that was marked by controversy from the start, given his previous role as a major architect of the Iraq war when he served as the No. 2 official at the Pentagon.
"He assured us that he acted ethically and in good faith in what he believed were the best interests of the institution and we accept that," the board said in its announcement of Wolfowitz's resignation.