From MSNBC.com:

White House eyes new World Bank chief

Bush administration to move quickly to replace Paul Wolfowitz

WASHINGTON - Trying to put a controversy behind it, the Bush administration was wasting no time finding a successor to World Bank President Paul Wolfowitz, who will resign over his handling of a pay package for his girlfriend.

Wolfowitz on Thursday announced that he would step down at the end of June, his leadership undermined by a furor over the compensation he arranged in 2005 for Shaha Riza, a bank employee.

His 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.

UPDATE:

Word has leaked out of the White House this morning that Bush’s search for the World Bank President replacement has been narrowed down to the following contenders:

When asked about their qualifications, Mr. Bush responded that the three applicants had exemplary track records. A fourth applicant, J. Falwell (long-time business associate and preferred pick for the job by Bush), was abruptly removed from the list this week. Mr. Falwell took a position elsewhere.