Overview

• Klaus Schwab, founder of the World Economic Forum, has resigned as Chairman of the Board effective immediately after more than 50 years at the helm.
• Peter Brabeck-Letmathes, former Nestlé chairman, has been appointed interim chairman while the search for Schwab's permanent successor is underway.
• The WEF has launched a formal process to identify a new chair, with speculation surrounding high-profile figures such as Christine Lagarde, Ursula von der Leyen, and Thomas Buberl.
• Schwab had already stepped back from daily operations in 2024, delegating executive responsibilities to CEO Børge Brende.
• The leadership change follows years of internal and external criticism of Schwab's tenure, including calls for modernization and allegations of sexism and racism within the organization.