Klaus Schwab, the Founder and Chairman of the World Economic Forum (WEF), has stepped down from his position after 55 years of leadership. The announcement was made on April 21, 2025, as Schwab, now 87, transitions from his role as Chairman of the Board of Trustees.
The WEF Board of Trustees acknowledged Schwab's resignation during an extraordinary meeting on April 20, 2025. In accordance with the Forum's regulations, Vice Chairman Peter Brabeck-Letmathe has been appointed as Chairman ad interim. A search committee has also been established to select a future Chair.
The Board expressed gratitude for Klaus Schwab's contributions in creating a global platform for dialogue and progress. The WEF will continue to unite leaders from various sectors to exchange ideas and promote collaboration.