Geneva, April 21: Klaus Schwab, Founder and Chairman of the Board of Trustees of the World Economic Forum (WEF), has officially stepped down from his role after more than five decades of leadership. Schwab, who is entering his 88th year, informed the Board of Trustees of his decision, effective immediately.
“Following my recent announcement, and as I enter my 88th year, I have decided to step down from the position of Chair and as a member of the Board of Trustees, with immediate effect,” Schwab stated in an official release from the Forum.
The WEF Board convened for an extraordinary meeting on April 20 to acknowledge Schwab’s resignation. In accordance with the Forum’s internal rules and regulations, the Board unanimously appointed Vice Chairman Peter Brabeck-Letmathe as interim Chairman. A Search Committee has also been formed to identify Schwab’s permanent successor.
In recognizing Schwab’s retirement, the Board highlighted his remarkable legacy in establishing and guiding the World Economic Forum for 55 years. Under his leadership, the WEF grew into a premier global platform for dialogue, cooperation, and progress.
“At a time when the world is undergoing rapid transformation, the need for inclusive dialogue to navigate complexity and shape the future has never been more critical,” the Board said in its statement, emphasizing its commitment to the Forum’s founding mission and values.
Looking ahead, the Forum reaffirmed its dedication to fostering collaboration across sectors and regions to address global challenges.
Earlier this year, the World Economic Forum held its Annual Meeting in Davos-Klosters from January 20 to 24, 2025. The event brought together over 350 government leaders, including 60 heads of state and government.
