Here's who is replacing Klaus Schwab, founder of the World Economic Forum, after 55 years

After over five decades of defining the World Economic Forum’s mission and global influence, Klaus Schwab has officially stepped down as Chairman of the Board of Trustees, citing his age as he enters his 88th year. Schwab, who founded the Forum in 1971, leaves behind a legacy of fostering multistakeholder collaboration at the highest levels of global leadership.

“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,” said Klaus Schwab in a statement.

The World Economic Forum’ annual gathering of business and political leaders in the Swiss mountain resort of Davos has become a symbol of globalisation.

Klaus Schwab’s successor

At a special Board meeting on April 20, the Board unanimously appointed Vice Chairman Peter Brabeck-Letmathe as interim Chair and formed a Search Committee to identify a permanent successor.

The Board paid tribute to Schwab’s remarkable contributions, stating, “He created the leading global platform for dialogue and progress,” and emphasized the Forum’s commitment to its founding mission amid global transformation.

The World Economic Forum, with over 800 employees across Geneva, New York, Beijing, and Tokyo, continues to play a pivotal role in shaping global agendas. As the leadership baton passes, the need for inclusive and informed dialogue remains more critical than ever.