Bank of Canada Governor Dodge won't seek 2nd term
25/04/07
OTTAWA (Reuters) - Bank of Canada Governor David Dodge will not seek a second seven-year term, the bank announced on Wednesday.
Dodge's mandate ends on February 1, 2008. The governor, 63, said late last month he would be talking to the bank's board of directors in June to discuss the issue of succession.
"Governor David Dodge has informed the Bank of Canada's board of directors and the minister of finance that he will not seek a second term as governor," the bank said in a statement.
"While Governor Dodge's term continues until January 31, 2008, he indicated he is making his plans known well in advance to facilitate the selection and appointment of his successor."
The bank's board will soon form a special committee of independent directors to help recruit Dodge's successor. The committee is expected to complete the process by the fall, the bank said in a statement.
The appointment must be approved by the finance minister and the cabinet.
Dodge, a pipe-smoking Princeton University alumnus renowned for his gravely voice, is highly respected internationally and has been an outspoken proponent of reform of the International Monetary Fund.
He was Canada's deputy minister of finance and then deputy minister of health before being appointed to the top job at the Bank of Canada in 2001.