Who is Klaus Schwab? WEF founder steps down as Chairperson

Klaus Schwab, the 88-year-old founder of the World Economic Forum (WEF), resigned immediately as Chairperson and Board of Trustees member on Monday, ending his 55-year tenure shaping the Geneva-based organization into a global powerhouse for public-private dialogue.

End of an Era: Schwab’s Legacy at the World Economic Forum

Schwab, synonymous with the WEF since founding it in 1971, announced his departure as he enters his 88th year, stating: “The time has come for new leadership to steer the Forum’s mission forward.” The board praised his “relentless dedication,” crediting him for transforming Davos into the world’s premier gathering of political, corporate, and cultural leaders.

Who is Peter Brabeck-Letmathe? Meet WEF’s Interim Chair

Following an emergency board meeting Sunday, Vice Chairman Peter Brabeck-Letmathe—former CEO of Nestlé—was unanimously appointed interim Chair. A Search Committee has been formed to select a permanent successor, ensuring continuity for the organization amid global economic and geopolitical shifts.

Davos Legacy: How Schwab Built a Global Dialogue Powerhouse

Under Schwab’s leadership, the WEF’s annual Davos summit became a symbol of elite collaboration, drawing figures like India’s Narendra Modi and Microsoft’s Satya Nadella. The Forum’s focus on climate action, AI ethics, and inclusive growth cemented its role as a critical platform for tackling global challenges.

WEF Board of Trustees: Mukesh Ambani, Christine Lagarde, and Global Heavyweights

The board, a who’s who of global influence, includes:

• Mukesh Ambani (Reliance Industries)
• Christine Lagarde (European Central Bank)
• Ngozi Okonjo-Iweala (WTO)
• Ajay Banga (World Bank)
  Their task: Uphold Schwab’s vision while navigating rising demands for equitable solutions in a fragmented world.

Global Search for New Leadership: What’s Next for the WEF?

The Search Committee faces high stakes in selecting a Chair capable of balancing stakeholder interests amid critiques of the Forum’s “elitist” label. Key priorities include addressing climate financing, AI governance, and bridging Global North-South divides.