Klaus Schwab to Step Down as World Economic Forum Executive Chairman

Schwab transitions to non-executive role after over 50 years, paving the way for new leadership by January 2025.

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.