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Klaus Schwab Steps Down from World Economic Forum Board After 55 Years

The WEF founder's departure marks the end of an era, with interim leadership in place and a search underway for a permanent successor.

DAVOS, SWITZERLAND - JANUARY 21: Klaus Schwab, executive chairman of the World Economic Forum attends the World Economic Forum (WEF) annual meeting in Davos, Switzerland on January 21, 2025. (Photo by Halil Sagirkaya/Anadolu via Getty Images)
World Economic Forum (WEF) Founder and Chairman Klaus Schwab gives his welcoming remarks at the 55th annual World Economic Forum (WEF) meeting in Davos, Switzerland, January 21, 2025. REUTERS/Yves Herman/ File Photo
FILE - Klaus Schwab, Chairman of the World Economic Forum attends the opening of the Annual Meeting of World Economic Forum in Davos, Switzerland, Jan. 16, 2024. (AP Photo/Markus Schreiber, File)
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Overview

  • Klaus Schwab, founder of the World Economic Forum, has formally stepped down from the board, citing his age as he enters his 88th year.
  • Peter Brabeck-Letmathe, previously Vice Chairman, has been appointed interim board chairman while a search committee identifies Schwab's permanent successor.
  • Schwab had already relinquished his role as executive chairman in 2024, with Børge Brende taking over daily management responsibilities.
  • The WEF, known for its annual Davos summit of global elites, emphasized its commitment to fostering cooperation and addressing global challenges under its new leadership structure.
  • Criticism of the Forum persists, including accusations of elitism and disinformation campaigns targeting its initiatives, such as 'The Great Reset.'