WEF: Founder Klaus Schwab to step down as chair of Board of Trustees
New Delhi: The World Economic Forum (WEF)’s founder. Klaus Schwab, will ’start the process’ of stepping down as the chair of its Board of Trustees, a spokesperson for the Geneva-based institution said on Thursday.
Addressing the Forum at its annual gathering in the Swiss resort of Davos, Schwab addressed the forum, which convenes annual gatherings in the Swiss resort of Davos, he said the organization must recover its “sense of mission’ after a period of turmoil.
However, according to reports, the process of his step-down will be completed by January 2027. Schwab will remain in the role until a successor is appointed.
Last year, he said he would next year give up executive duties to a team led by Borge Brende after 55 years at the Forum. Brende was a former foreign minister of Norway and has been the WEF’s President since 2017.
Speaking about the finances, Schwab stated that the institution is financially very well-equipped thanks to the financial management from the very beginning.
As of now, the main focus is to fix the turmoil of the last few months and to recover the sense of mission, he said, without specifying if the upheaval he was referring to was in response to US President Donald Trump’s second term or an investigation of the WEF, the report added.
