Overview

• Klaus Schwab has officially started the process of stepping down as chair of the World Economic Forum's board of trustees after over 50 years at the helm.
• The transition, expected to be completed by January 2027, follows Schwab's earlier move to a non-executive role in May 2024.
• The WEF faced allegations of workplace discrimination and harassment under Schwab's leadership, prompting an external investigation that found no legal violations but identified leadership issues.
• Schwab emphasized the need for the WEF to recover its 'sense of mission' after recent challenges, including internal and external criticisms of the organization's practices.
• The 87-year-old plans to focus on writing his memoirs, marking the end of an era for the forum he founded in 1971.