A titan has stepped down.
Klaus Schwab, the visionary who founded the World Economic Forum in 1971, has ended his 55-year reign as Chairman of the Board of Trustees, effective April 21, 2025.
At 88, he’s chosen to step away, leaving behind a legacy as towering as the snowy peaks of Davos, where global leaders have gathered under his watch.
At 88, Klaus Schwab steps back, his legacy looming like Davos’ snowy peaks, where global giants convened under his influential gaze.
There’s a quiet weight to this moment—a man who shaped a platform for world-shaping ideas now hands over the reins.
Can anyone fill those well-worn shoes?
The announcement came just as Schwab entered his 88th year, a fitting, if bittersweet, milestone.
He’s not just stepping down as Chairman but also as a member of the Board of Trustees.
The World Economic Forum, once called the European Management Forum, grew under his gaze into a powerhouse of multi-stakeholder dialogue.
Imagine the buzz of countless Davos meetings—clinking coffee cups, hurried whispers in frigid air, and deals struck over fondue.
Now, that era shifts.
Since 2015, a governance evolution has been brewing, moving from a founder-led model to a President and Managing Board structure.
A plan from May 2024 hinted at a January 2025 succession, but Schwab’s exit came sooner.
Surprising? Maybe.
Necessary? Many nod quietly.
Peter Brabeck-Letmathe, the current Vice Chairman, steps in as Chairman ad interim, while a Search Committee hunts for a permanent successor.
Meanwhile, Børge Brende, President and CEO since 2017, chairs the Managing Board, now holding full executive power.
It’s a modern twist—less one-man-show, more team effort.
Yet, there’s irony in this sleek, corporate shift for an organization born from one man’s big dream.
Will this new structure, with its Board of Trustees boasting names like Mukesh Ambani and Al Gore, keep the WEF’s mission of “improving the state of the world” alive?
Amidst rapid global change, the WEF pledges to remain a hub for dialogue.
Picture the tension: old-school ideals meeting today’s chaotic challenges.
Schwab’s exit marks an end, but also a beginning.
The future? Uncertain, yet oddly thrilling.
This transition reflects the organization’s commitment to adapt, even as Schwab’s resignation takes effect.
Additionally, Peter Brabeck-Letmathe’s appointment as interim Chairman was a unanimous decision by the Board.
Let’s watch this unfold.
