Klaus Schwab, the founder of the World Economic Forum (WEF) in Davos, has stepped down as chairman of the organisation’s Board of Trustees, according to the organisation’s website.
Schwab explained his decision to leave by the fact that he will soon turn 88. The Rada accepted his resignation at a meeting on 20 April.
Peter Brabeck-Letmathe, who holds the position of deputy chairman of the board, was appointed interim chairman.
Klaus Schwab-German economist, founder of the World Economic Forum in Davos. From the founding of the WEF in 1971 until 2025, Schwab served as president of the forum, and then became chairman of the WEF Board of Trustees.
As the Frankfurter Allgemeine newspaper notes, criticism of Schwab has intensified over the past few years. In 2024, former and senior forum staff accused Schwab and the WEF leadership of discrimination against women and blacks, as well as harassment. The Wall Street Journal, citing complaints filed inside the WEF, alleged that an atmosphere hostile to women and blacks prevailed at the organisation under Schwab’s leadership. Schwab and the WEF have denied the allegations.