• Leadership Transition: Klaus Schwab resigns as Chair and Board Member of the World Economic Forum after five decades of leadership.
• Interim Chair Appointed: Peter Brabeck-Letmathe named interim Chair as the Forum initiates a formal search for Schwab’s successor.
• Institutional Continuity: The Forum reaffirms its commitment to global collaboration and dialogue amid geopolitical and economic transformation.

Klaus Schwab, the founder and long-serving Chair of the World Economic Forum (WEF), has officially stepped down from his role and membership on the Board of Trustees.

“Following my recent announcement, and as I enter my 88th year, I have decided to step down from the position of Chair and as a member of the Board of Trustees, with immediate effect,” Schwab informed the Board.

At an extraordinary Board meeting held on April 20, the WEF’s Board accepted Schwab’s resignation and unanimously appointed Vice Chairman Peter Brabeck-Letmathe as Chairman ad interim. A Search Committee has been formed to identify a permanent successor.

The Board recognized Schwab’s transformative impact, highlighting his role in creating “the leading global platform for dialogue and progress.” Under his leadership, the Forum became a hub for public-private cooperation on some of the world’s most pressing issues.

As geopolitical and economic complexity continues to intensify, the WEF emphasized that its mission remains unchanged.

“The need for inclusive dialogue to navigate complexity and shape the future has never been more critical,” the Board stated.

With Schwab’s departure marking the end of an era, the World Economic Forum signals its intention to maintain strategic continuity while evolving to meet global challenges head-on.

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