World Economic Forum’s Klause Schwab Steps Down from Executive Role

• Klaus Schwab, the Founder and Executive Chairman of the World Economic Forum (WEF), announced he is stepping back from his executive role. Schwab, who established the WEF in 1971, revealed his decision in an email to staff on Tuesday, May 21, according to news website Semafor.

• Schwab, 86, will transition to the role of non-executive chairman, pending approval from the Swiss government. The change is expected to be finalised before the WEF’s annual meeting in 2025.

• While he has not named a successor, Schwab noted that the executive board, led by WEF President Børge Brende, has been managing executive responsibilities over the past year.