Klaus Schwab Steps Down as WEF Chairman After Five Decades

Klaus Schwab, the longtime Chairman of the World Economic Forum's Board of Trustees, resigns at 87. Vice Chairman Peter Brabeck-Letmathe steps in as interim chairman. Schwab's legacy includes creating a global platform for dialogue amid transformation. A search for a permanent chair is underway.

Klaus Schwab, the Chairman of the World Economic Forum's Board of Trustees, has announced his resignation after leading the organization for over fifty years. At 87, Schwab has decided to step down from his post and membership on the Board of Trustees immediately, the World Economic Forum confirmed in a statement on Monday.

The Board of Trustees, during an extraordinary meeting on April 20, accepted Schwab's resignation. In accordance with the Forum's regulations, Vice Chairman Peter Brabeck-Letmathe has been appointed as the Chairman ad interim. A search committee has been established to select Schwab's successor.

Praising Schwab's tenure, the Board recognized his role in establishing the Forum as a pivotal platform for global dialogue and collaboration. As the world faces swift changes, the need for inclusive discourse is paramount. The Forum reiterated its commitment to fostering progress by uniting leaders worldwide, underscoring its ongoing mission and impact.

(With inputs from agencies.)