Klaus Schwab WEF Geneva – The era of the World Economic Forum he built over 55 years ends with the retirement of founder Klaus Schwab, 87.
In a statement released by the WEF, Klaus Schwab said he was stepping down “with immediate effect.” The announcement came just months after the latest WEF annual meeting in Davos, Switzerland, a tradition that Schwab established and led as a hub for global thought leadership and policy dialogue.
Peter Brabeck- Letmathe Named Interim Chairman
The WEF’s board unanimously selected former Nestlé chairman and CEO Peter Brabeck-Letmathe as interim chairman during a special meeting held Sunday. A formal search is now underway to appoint Schwab’s permanent successor.
The End of a Global Era
Founded in 1971, the WEF under Klaus Schwab became a global stage for heads of state, corporate leaders, academics, and NGO representatives to tackle major issues, from climate change and inequality to globalization and technological disruption.
Schwab directed the forum, making it renowned for hosting global leaders. These included figures like Donald Trump, Vladimir Putin, President Xi Jinping, and many others. It evolved from a conference into a venue where leaders made agreements, developed rules, and tested international collaboration.
What Will Happen to the WEF Next?
Despite Schwab’s departure, the forum emphasized that its mission remains unchanged. The organization said, “The world is undergoing rapid transformation. Inclusive dialogue is crucial to navigate complexity and shape the future.”
The WEF Klaus Schwab legacy will likely continue to shape the future of multilateral cooperation. But for now, a new chapter begins—with fresh leadership and renewed global challenges.
Source: AP News
