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2w ago

Klaus Schwab Steps Down as World Economic Forum Chairman After 55 Years

Peter Brabeck-Letmathe assumes interim leadership as the WEF begins its search for a permanent successor amid declining public attention.

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Klaus Schwab
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„Die Zukunft wird von uns gestaltet, durch eine mächtige Gemeinschaft“, verkündete der Chef des Weltwirtschaftsforums (WEF), Klaus Schwab noch 2022. Foto: picture alliance / ASSOCIATED PRESS | Markus Schreiber

Overview

  • Klaus Schwab, founder of the World Economic Forum, has resigned as Chairman of the Board of Trustees with immediate effect at age 87.
  • Peter Brabeck-Letmathe, former Nestlé chairman and WEF vice-chair, has been appointed interim Chairman by the Board of Trustees.
  • The leadership transition comes as the Forum faces waning public visibility, with its annual Davos meeting increasingly overshadowed by the Munich Security Conference.
  • Speculation about Schwab's permanent successor has emerged, with Christine Lagarde among the rumored candidates, though no timeline has been announced.
  • Founded in 1971, the WEF remains headquartered in Geneva and employs 600 staff globally, continuing its mission to improve global cooperation and address complex challenges.