World Economic Forum founder and executive chairman Klaus Schwab has announced his decision to step back from his role running the global gathering that he founded in 1971. Schwab shared his intentions in an email to staff, indicating that he will be transitioning from executive chairman to non-executive chairman pending approval by the Swiss government.
A spokesperson for the Forum stated that the organization is undergoing a transformation into the leading global institution for public-private cooperation, resulting in changes to its governance structure. By January 2025, Schwab is expected to transition to the role of Chairman of the Board of Trustees.
While Schwab has not yet named his successor, he acknowledged the executive board’s leadership, particularly President Børge Brende, who has assumed full executive responsibility in the past year. Brende, a former Norwegian conservative leader, is actively involved in the Forum’s operations.
At 86 years old, Schwab has been closely associated with the organization for over five decades. The annual WEF meeting in Davos, initially known as the European Management Forum, has significantly grown in scale since its inception, attracting numerous world leaders and CEOs each year. In 2024, more than 50 heads of state participated in the event.
The Forum’s structure reflects a familial dynamic, with Schwab’s family members holding key positions within the organization. His wife, Hilde, leads the organization’s foundation, further solidifying the Forum’s legacy under Schwab’s leadership.
