Bush to Name Zoellick to Lead World Bank, Replacing Wolfowitz

Washington (AP) -- A senior administration official says President Bush has chosen former Deputy Secretary Of State Robert Zoellick to lead the World Bank.

Zoellick will replace Paul Wolfowitz, who resigned after a special bank panel discovered that he broke bank rules when he arranged a hefty compensation package in 2005 for his girlfriend, a bank employee.

Wolfowitz will leave his post at the end of next month.

The official says Zoellick's selection has received positive reaction from other nations and the official says the White House expects he will be accepted by the World Bank executive board.

The president will announce his decision Wednesday.

Copyright 2007 by the Associated Press. All rights reserved.

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