The International Monetary Fund has appointed its first female leader since the institutions inception 67 years ago.
The IMF confirmed late on Tuesday that it had selected Christine Lagarde to serve as managing director and madame chairman of the executive board for a five-year term starting on July 5.
Lagarde, who succeeds Dominique Strauss-Kahn, who resigned from the post amid a sex scandal last month.
The 55-year-old has been the Minister of Finance of France since June 2007. Prior to that, she served as France's Minister for Foreign Trade for two years. She also has had an extensive and noteworthy career as an anti-trust and labour lawyer.
Lagarde beat Mexican central bank governor Agustin Carstens to the post, despite calls that the next IMF boss come from a developing nation.
The IMF said in a statement that the selection of Lagarde by the 24-member executive board representing the IMF's 187 member countries brought to conclusion the selection process initiated by board late in May.
According to the agreed procedures, the board met with Carstens and Lagarde for the post and both candidates met bilaterally with executive directors, as well as the executive board, last week.
"The executive board agreed that both were well qualified candidates and the objective was to select one by consensus. Based on the candidate profile that had been established, the executive board, after considering all relevant information on the candidacies, proceeded to select Ms. Lagarde by consensus," it said.
Soure: http://www.businesslive.co.za/incoming/2011/06/29/imf-gets-first-female-boss
The IMF confirmed late on Tuesday that it had selected Christine Lagarde to serve as managing director and madame chairman of the executive board for a five-year term starting on July 5.
Lagarde, who succeeds Dominique Strauss-Kahn, who resigned from the post amid a sex scandal last month.
The 55-year-old has been the Minister of Finance of France since June 2007. Prior to that, she served as France's Minister for Foreign Trade for two years. She also has had an extensive and noteworthy career as an anti-trust and labour lawyer.
Lagarde beat Mexican central bank governor Agustin Carstens to the post, despite calls that the next IMF boss come from a developing nation.
The IMF said in a statement that the selection of Lagarde by the 24-member executive board representing the IMF's 187 member countries brought to conclusion the selection process initiated by board late in May.
According to the agreed procedures, the board met with Carstens and Lagarde for the post and both candidates met bilaterally with executive directors, as well as the executive board, last week.
"The executive board agreed that both were well qualified candidates and the objective was to select one by consensus. Based on the candidate profile that had been established, the executive board, after considering all relevant information on the candidacies, proceeded to select Ms. Lagarde by consensus," it said.
Soure: http://www.businesslive.co.za/incoming/2011/06/29/imf-gets-first-female-boss
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