Klaus Schwab Steps Down as World Economic Forum Chair
Klaus Schwab, the visionary founder of the World Economic Forum (WEF), has resigned as chair and member of the board of trustees, marking the end of an era for the organization he established in 1971.
The WEF, renowned for its annual Davos summit, confirmed Schwab’s immediate departure on April 21, 2025. Schwab said, as reported by the WEF:
Transition and Interim Leadership
The WEF board, in an extraordinary meeting on April 20, accepted Schwab’s resignation and appointed Vice Chairman Peter Brabeck-Letmathe as interim chairman.
Brabeck-Letmathe, an Austrian businessman and chairman emeritus of Nestlé, brings extensive leadership experience, having served as Nestlé’s chairman and CEO from 1997 to 2008 and as chairman of the Formula One Group.
The board has also formed a search committee to identify a permanent successor, signaling a structured transition for the organization.
Schwab’s Enduring Impact
Schwab founded the WEF to foster dialogue among global leaders on pressing issues, creating a platform that has shaped discussions on globalization, sustainability, and economic policy for over five decades.
The WEF board praised his contributions, stating, “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.”
Despite criticism of the Davos summit as elitist, Schwab’s vision positioned the WEF as a critical space for collaboration across sectors.
Looking Ahead
As the WEF navigates this leadership change, it remains committed to its mission of facilitating inclusive dialogue.
“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 emphasized.
With Brabeck-Letmathe at the helm and a search for a new chair underway, the WEF is poised to build on Schwab’s legacy while adapting to an evolving global landscape.