The founder of the World Economic Forum, Klaus Schwab, has resigned from his position as chairman and member of the organization’s Board of Directors with immediate effect. This marks a significant change for the institution, famed for its annual meeting in Davos, Switzerland.
“As I approach my 88th year, I have decided to step down from my role as chairman and member of the Board, effective immediately,” Schwab announced in a statement released today.
Schwab will be temporarily succeeded by Peter Brabeck-Letmathe, the vice-chairman of the Board and former CEO of Nestlé.
