, the founder of the
World Economic Forum (WEF), has stepped down as chairman and board member of the organization with immediate effect. The Geneva-based think tank experienced a historic transition when Schwab completed over fifty years of leadership. The WEF has currently chosen Peter Brabeck-Letmathe as interim chairman for the organization following Schwab’s departure.Throughout its existence, the WEF conducted important annual gatherings in
Davos, Switzerland, where leaders from various sectors, like business and government, together with academics and civil society, engaged in examining critical global matters. As leader of the forum, Dr Klaus Schwab established it as a leading platform for economic partnerships and strategic policy making alongside dialogue activities. Throughout its history, the WEF managed to attract politicians, including Xi Jinping, Vladimir Putin, and Donald Trump, and numerous additional leaders.
Klaus Schwab was born in Ravensburg, Germany, on March 30, 1938, before establishing himself as a German engineer, economist, and academic. The position as the founder of the World Economic Forum remains the most prominent designation for Schwab. Originally called the European Management Forum, the organization later transformed into a globally influential platform fostering collaboration between public and private sectors to address global challenges. Here’s how Schwab contributed as a visionary leader:The global community recognizes Schwab for his numerous altruistic achievements. Dr. Schwab earned more than twelve honorary academic doctorates, in addition to various distinguished awards, including Guggenheim Humanitarian Award, Dan David Prize,
Global Economy Prize, UK KCMG knighthood, and national honors from France, Japan, China, and Germany. The Confederation of Indian Industry (CII) presented Schwab with its Lifetime Achievement Award in 2024.
With Schwab stepping down, the World Economic Forum establishes itself as a vital forum for inclusive worldwide discourse while moving into a new direction under a new executive direction.
