WEF founder and chairman Klaus Schwab resigns with immediate effect
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Klaus Schwab, the founder and chairman of the World Economic Forum (WEF), has officially resigned from his position at the organization he established more than half a century ago. The WEF, based in Geneva, confirmed the news on Monday. The announcement followed earlier indications this month that the 87-year-old would be stepping down. In a statement released by the organization, Schwab said his departure would take effect immediately. “Following my recent announcement, and as I enter my 88th year, I have decided to step down from the position of Chair and as a member of the Board of Trustees, with immediate effect,” he remarked. Schwab’s resignation was formally accepted during a board meeting held on April 20. Vice Chairman Peter Brabeck-Letmathe has been appointed interim chairman, but a search committee has been formed to identify a permanent replacement later in the year. University lecturer turned global economic industry head Born on March 30, 1938, in Ravensburg, Germany, Schwab built a distinguished academic record with studies at Swiss universities and Harvard in the United States. He holds doctorates in engineering and economics and more than a dozen honorary degrees. At the time he launched the WEF’s precursor, the European Management Forum, in 1971, Schwab was a relatively obscure professor at the University of Geneva. Davos meetings, which began as a small business conference with fewer than 500 participants, grew into a major platform for global dialogue attended by economic leaders and presidents. Schwab expanded the annual event by inviting high-level politicians, executives, NGO leaders, trade unions, and figures from civil society. Over time, the WEF developed new regional summits and launched centers addressing global challenges such as climate change, cybersecurity, energy transition, and financial system resilience. The organization describes itself as an “impartial and not-for-profit platform” that facilitates collaboration and trust…
