Overview

• Schwab announced his decision via email to WEF staff, confirmed by a WEF spokesperson.
• The transition is part of a planned governance evolution at the WEF since 2015.
• Former Norwegian Foreign Minister Børge Brende is expected to take over as Executive Chairman.
• The Swiss government must approve the leadership change, anticipated by the next Davos summit.
• Schwab's departure signals potential shifts in the WEF's strategic direction and global influence.