Christine Lagarde Named First Woman Chief of International Monetary Fund

French Finance Minister Christine Lagarde has been chosen to lead the International Monetary Fund. She will become the first female managing director of the global lending organization.

Lagarde's selection became all but assured when the Obama administration endorsed her earlier Tuesday. Hours later, the IMF's 24-member board voted to appoint her to the position. She had also won support from Europe, China and Russia. - www.mannastores.com

Dominique Strauss-Kahn resigned last month after being charged with sexually assaulting a New York City hotel housekeeper. He has denied the charges.

Lagarde, 55, will be the first person to lead the IMF who isn't an economist. She led the Chicago-based law firm Baker & McKenzie before entering French politics in 2005. She speaks impeccable English and spent much of her career in the United States.

As one of the longest-serving ministers under French President Nicolas Sarkozy, she made the country's labor market rules more flexible. Forbes has listed her among the world's most powerful women.

www.mannastores.com