Asian Development Bank said Takehiko Nakao resigned as president, effective Jan. 16, 2020.
Nakao assumed the role in April 2013.
Japan, the largest investor in the Philippines-based policy bank along with the U.S., plans to nominate Masatsugu Asakawa, a special cabinet adviser and former vice minister of finance for international affairs, to succeed Nakao, The Nikkei reported Sept. 17, citing a Japanese Finance Ministry official.
The official added that China, the third largest investor in Asian Development Bank, may nominate a rival candidate for the role.
