RENEE MONTAGNE, host: NPR's business news starts with the IMF chief quitting.</s>RENEE MONTAGNE, host: The head of the International Monetary Fund, Dominique Strauss-Kahn, has resigned. The move was expected after he was charged with sexual assault of a New York City hotel maid.</s>RENEE MONTAGNE, host: Strauss-Kahn says he's innocent, but decided to step down to protect the institution. French finance minister Christine Lagarde is a leading contender to succeed Strauss-Kahn, but today China and Brazil called for a process based on merit to indicate their opposition to Europe's longtime lock on the position.
Dominique Strauss-Kahn, the embattled managing director of the International Monetary Fund, resigned Wednesday, saying he wanted to devote "all his energy" to battle the sexual assault charges he faces in New York.