Klaus Schwab Steps Down as World Economic Forum Executive Chairman

After more than 50 years, Schwab transitions to chairman of the board of trustees with new governance structure in place.

Schwab founded the World Economic Forum in 1971, originally called the European Management Forum.
The transition is part of a long-term strategy to shift governance to a president and managing board.
Børge Brende, current WEF president, has been leading the executive board.
The change will be completed before the next Davos meeting in January 2025.
Schwab's tenure has seen both significant achievements and criticisms of the Forum.