World Bank President Jim Yong Kim has abruptly resigned from his post to join a private infrastructure investment firm, an unexpected departure that comes nearly three years before the end of his term. Kim, who had served in the role since 2012, announced on Monday that he would leave his post well ahead of his term's expiration at the end of 2021, reports CNN.

"It has been a great honour to serve as President of this remarkable institution, full of passionate individuals dedicated to the mission of ending extreme poverty in our lifetime," Kim wrote in a statement.