WEF FOUNDER KLAUS SCHWAB IS STEPPING DOWN FROM EXECUTIVE POST  – The Step Down will be finalised in 2025

Klaus Schwab of the World Economic Forum is stepping down from his role as executive chairman after more than five decades. The 86-year-old is moving away from the day-to-day management of the organisation and will become chairman of the WEF’s board of trustees by January 2025.

A WEF spokesperson said: “Since 2015, the World Economic Forum has been transforming from a convening platform to the leading global institution for public-private cooperation.

“As part of that transformation, the organisation has also been undergoing a planned governance evolution from a founder-managed organisation to one where a President and Managing Board assume full executive responsibility.”

The forum did not reveal who would succeed Schwab and become the face of its annual meeting in Davos, Switzerland. At the WEF’s annual meeting last year, Schwab opened the importance of “mastering the future.” At this year’s meeting, he referred to participants as “trustees of the future.”

A statement from a WEF spokesperson said that the organisation is “transforming from a convening platform to the leading global institution for public-private cooperation.” Experts who have studied the WEF warned of the risks of such “public-private” partnerships.