Who Is Klaus Schwab? WEF Founder Steps Down as Chairperson

Klaus Schwab, the 88-year-old founder of the World Economic Forum (WEF), has resigned as Chairperson and member of the Board of Trustees, ending his 55-year tenure. Schwab’s departure marks a pivotal moment for the Geneva-based organization, which he shaped into a key platform for public-private dialogue.

Schwab’s Legacy: A New Chapter for the World Economic Forum

Schwab, who founded the WEF in 1971, announced his resignation as he entered his 88th year, saying, “The time has come for new leadership to steer the Forum’s mission forward.” His leadership has been integral to transforming the WEF into the global stage it is today. The board praised his “relentless dedication” and credited him with turning Davos into the world’s foremost gathering of political, corporate, and cultural leaders.

Peter Brabeck-Letmathe Appointed Interim Chair of WEF

Following an emergency board meeting on Sunday, Peter Brabeck-Letmathe, Vice Chairman and former CEO of Nestlé, was appointed interim Chair of the WEF. A Search Committee has been formed to find a permanent successor, ensuring the continuity of the Forum’s mission during a period of significant global economic and geopolitical change.

Schwab’s Impact: Building a Global Dialogue Hub

Under Schwab’s guidance, the WEF’s annual summit in Davos became synonymous with elite collaboration. It attracted world leaders like India’s Narendra Modi and corporate giants like Microsoft’s Satya Nadella. Schwab’s vision of tackling pressing global challenges—such as climate change, AI ethics, and inclusive growth—has positioned the Forum as a crucial platform for addressing issues that span borders and sectors.

The WEF Board: Global Leaders on the Frontlines of Change

The WEF Board of Trustees includes influential figures such as:

• Mukesh Ambani (Reliance Industries)
• Christine Lagarde (European Central Bank)
• Ngozi Okonjo-Iweala (World Trade Organization)
• Ajay Banga (World Bank)

These leaders will now work to uphold Schwab’s legacy while steering the organization through rising global demands for more equitable solutions.

What’s Next for the WEF? The Search for New Leadership

As the Search Committee embarks on finding Schwab’s successor, the stakes are high. The next Chair will need to navigate the complexities of global economic fragmentation, address calls for more inclusive governance, and balance the interests of diverse stakeholders. Key priorities for the WEF include addressing climate financing, AI regulation, and bridging the gap between the Global North and South.