Artikel 24

1. The Governing Council shall by a Qualified Majority appoint the Managing Director. If the appointee is, at the time of his appointment, a Governor or an Executive Director, or an alternate, he shall resign from such position prior to taking up his duties as Managing Director.
2. The Managing Director shall be the chief executive officer of the Fund and shall conduct, under the direction of the Governing Council and the Executive Board, the ordinary business of the Fund.
3. The term of office of the Managing Director shall be four years and he may be reappointed for one successive term. However, he shall cease to hold office at any time the Governing Council so decides by a Qualified Majority.
4. The Managing Director shall be responsible for the organization, appointment and dismissal of the staff pursuant to staff rules and regulations to be adopted by the Fund. In appointing the staff the Managing Director shall, subject to the paramount importance of securing the highest standards of efficiency and of technical competence, pay due regard to recruiting personnel on as wide a geographical basis as possible.
5. The Managing Director and staff, in the discharge of their functions, shall owe their duty entirely to the Fund and to no other authority. Each Member shall respect the international character of this duty and shall refrain from all attempts to influence the Managing Director or any of the staff in the discharge of their functions.