Klaus Schwab, the founder of the World Economic Forum (WEF), has stepped down from his position as Chairman and member of the Board of Trustees, effective immediately. The announcement was made on Monday, April 21, 2025, marking the end of his 55-year leadership of the organization.
Schwab, who is 87 years old, informed the WEF's board of his decision. The Board of Trustees has appointed Vice Chairman Peter Brabeck-Letmathe as interim chairman and has formed a search committee to find a permanent replacement.
The WEF board acknowledged Schwab's achievements in establishing the forum as a platform for global dialogue and progress. The organization will continue to bring together leaders from various sectors to foster collaboration on global issues.