Klaus Schwab steps down as WEF chair

WEF Chairman Schwab declares his immediate resignation Keystone-SDA

Schwab has announced his immediate resignation as Chairman of the Board of Trustees of the World Economic Forum (WEF)

The 88-year-old informed the Board of Trustees of his decision at an extraordinary meeting on Easter Sunday, the WEF announced in a press release on Monday. It did not provide any further details on the reason for his resignation.

“Following my recent announcement, and as I enter my 88th year, I have decided to step down from the position of Chair and as a member of the Board of Trustees, with immediate effect,” Schwab is quoted in the WEF press release.

The Board unanimously appointed Vice Chairman Peter Brabeck-Letmathe as Chairman ad interim. It also established a Search Committee for the selection of a future Chair.

Adapted from German by DeepL/ac

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