Geneva [Switzerland], April 21 : Chairman of the Board of Trustees of the World Economic Forum, Klaus Schwab resigned on Monday after helming the forum for over five decades.
He informed the Board about his resignation.
"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," Klaus Schwab was quoted in a statement from the World Economic Forum.
At an extraordinary Board meeting on April 20, the Board of Trustees took note of the resignation of Klaus Schwab.
In accordance with the Forum's Rules and Regulations, the Board unanimously appointed Vice Chairman Peter Brabeck-Letmathe as Chairman ad interim.
It also established a Search Committee for the selection of a future Chair.
The Board acknowledged the outstanding achievements of the retired Chairman and Founder of the World Economic Forum, Klaus Schwab.
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.
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 of Trustees of the World Economic Forum underlines the importance of remaining steadfast in its mission and values as a facilitator of progress. Building on its trusted role, the Forum will continue to bring together leaders from all sectors and regions to exchange insights and foster collaboration, the WEF statement added.
The Annual Meeting 2025 of The World Economic Forum was held at Davos-Klosters from 20th to 24th January 2025.
More than 350 governmental leaders participated this year, including 60 heads of state and government.
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