Philipp Hildebrand withdraws from OECD race

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Philipp Hildebrand throws in the towel. The Swiss candidate for the post of secretary general of the Organization for Economic Co-operation and Development (OECD) has decided to withdraw from the race, lacking broad support. The news was revealed in a press release early evening.

The former president of the Swiss National Bank (SNB) and now vice-president of BlackRock, the world’s largest asset manager, was close to the goal. He flew over the race that started last fall and shone on the 1st, 2nd and 3rd laps. The last step should be completed in the middle of next week. The successor of Mexican Angel Gurria, in office since 2006, will take office on June 1.

Three candidates remain in the running

“At this critical time for the global economy, it is essential that the next leader of the OECD enjoys the broad support of all its members,” he wrote in the statement. Which apparently was not the case. He adds: “It was a privilege and an honor to have been the candidate of Switzerland and to have come so far in the race.”

Therefore, three candidates remain in the running. They are Mathias Cormann (Australia), Anna Diamantopoulou (Greece) and Cecilia Malmström (Sweden). The latter is now a favorite. The name of the Swedish candidate, former European Commissioner (2014-2019) has already been mentioned concerning the occupation of several functions within international organizations in recent months.

Swiss diplomacy had nevertheless mobilized in favor of the candidacy of Philipp Hildebrand. Moreover, it was the Federal Council which had requested him to run for office at the OECD, of which Switzerland is one of the founding members.

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