Overview

• Klaus Schwab, founder of the World Economic Forum (WEF), has resigned as Chair of the Kuratorium with immediate effect at the age of 87.
• Peter Brabeck-Letmathe, former Nestlé executive and current Vice Chair of the WEF, has been named interim Chair during the transition.
• The WEF has launched a formal search process to identify Schwab's permanent successor, with speculation around high-profile candidates such as Christine Lagarde, though constraints exist.
• Schwab's departure comes as the WEF faces declining public attention and criticism of its internal culture and relevance compared to other global forums.
• The WEF, founded in 1971, remains committed to its mission of fostering dialogue and addressing complex global challenges despite leadership changes.