Klaus Schwab exits WEF leadership after 52 years, marking an end of an era
Klaus Schwab, the 87-year-old founder of the World Economic Forum (WEF), has officially stepped down as chairman of the organisation's board of trustees, effective immediately. This marks the end of over five decades of leadership since he established the WEF in 1971.
Source: WEF. Former World Economic Forum founder, Klaus Schwab.
Under Schwab's guidance, the WEF evolved from a modest European management symposium into a globally recognised platform, notably through its annual meetings in Davos, Switzerland.
These gatherings have brought together political leaders, business executives, academics, and other influential figures to discuss pressing global issues. Notable attendees over the years have included Xi Jinping, Vladimir Putin, and Donald Trump.
The WEF's board has appointed Peter Brabeck-Letmathe, former chairman and chief executive officer of Nestlé, as interim chairman while a search committee seeks a permanent successor.