Klaus Schwab Resigns from World Economic Forum After Five Decades

 

Klaus Schwab, the founder of the World Economic Forum (WEF), has stepped down as Chairman and Board of Trustees member after a special board meeting on April 20, 2025, the institution he founded in 1971. Schwab, 87, cited his age as the reason for his resignation, stating he has decided to step down as he enters his 88th year.

During his tenure, Schwab led the WEF's high-level annual meetings in Davos, bringing together world leaders, business executives and academics. 

Schwab has received numerous awards and honorary doctorates for his thought leadership and contributions to global cooperation, the WEF also faced criticism for being elitist

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Peter Brabeck-Letmathe, Vice Chairman of the Board of Trustees, will serve as interim chairman while a replacement is sought.  A Search Committee has been established to find a future chair. Schwab's resignation marks the end of over five decades of influence in shaping global economic dialogue and signals a possible shift in the WEF's future direction.