Klaus Schwab, founder and long-time Chairman of the World Economic Forum (WEF), has stepped down from his roles as Chair and board member with immediate effect as he approaches his 88th birthday, ending a 55-year leadership tenure at the controversial globalist organization.
“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 said in a press release.
“The Board acknowledged the outstanding achievements of the retired Chairman and Founder of the World Economic Forum, Klaus Schwab,” the WEF said in an accompanying statement. “He created the leading global platform for dialogue and progress, and the Board expressed its gratitude for his 55 years of relentless leadership at the helm of the Forum.”
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The board of trustees has unanimously appointed Vice Chairman Peter Brabeck-Letmathe as interim Chair and established a search committee to identify Schwab’s permanent successor.
“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 statement continued. “Building on its trusted role, the Forum will continue to bring together leaders from all sectors and regions to exchange insights and foster collaboration.”
Schwab is widely credited with developing the WEF’s annual Davos summit and promoting stakeholder capitalism, as well as initiating the “Great Reset” for post-pandemic transformation.
Under his leadership, the WEF became known for convening world leaders, CEOs, and academics to address pressing global challenges and make plans for cohesive world governance. The group’s members include heads of state, business and tech entrepreneurs, scientists, activists, and government officials from dozens of nations.
In May 2024, Schwab announced that he would be stepping down as executive chairman, with former Norwegian foreign minister Borge Brende stepping in to fill the vacancy.
Details on Schwab’s future honorary or advisory involvement and the permanent succession plan for his board role have yet to be announced.
Connor Walcott is the lead writer for Valuetainment.com. Follow Connor on X and look for him on VT’s “The Unusual Suspects.”
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