Overview

• Klaus Schwab, founder of the World Economic Forum (WEF), has resigned immediately as chair of the WEF Kuratorium at the start of his 88th year.
• Peter Brabeck-Letmathe, former Nestlé CEO and vice-chair of the WEF, has been appointed interim chair while the search for Schwab’s permanent successor begins.
• Schwab founded the WEF in 1971, transforming it into a global platform for dialogue among leaders from politics, business, and civil society.
• The WEF has faced declining public attention in recent years, with its Davos meetings overshadowed by other events like the Munich Security Conference.
• Despite Schwab’s departure, the Forum remains committed to its mission of improving the state of the world through stakeholder collaboration.