(image credit: by Ana Benet )
After more than 50 years of leading the World Economic Forum, Klaus Schwab officially steps down, marking a turning point for the organization he built into a global powerhouse for elite collaboration.
Klaus Schwab Steps Down as World Economic Forum Chair—A Global Leadership Icon Moves On
On April 20, 2025, the World Economic Forum (WEF) officially announced the resignation of its founder and long-standing chair, Klaus Schwab. At 87 years old and just shy of his 88th birthday, Schwab decided it was time to pass the baton, concluding a monumental chapter in international policy and business collaboration.
Schwab’s journey began in 1971, when he launched the WEF—then known as the European Management Forum—as a way to foster dialogue between business and political leaders. Over the decades, he transformed what started as a modest meeting in the Swiss Alps into the globally influential Davos summit, now synonymous with elite gatherings, cutting-edge economic policy discussions, and bold visions for the future.
Under Schwab’s leadership, the WEF became a unique space where CEOs, presidents, activists, and academics could gather to tackle issues ranging from climate change to AI regulation, all under one (alpine) roof. He was also known for his push for “stakeholder capitalism,” urging corporations to prioritize long-term societal goals alongside profits.
In a move that was both sudden and symbolic, Schwab announced he would step down immediately. His resignation was accepted during an extraordinary meeting of the WEF’s Board of Trustees. In the interim, Vice Chairman Peter Brabeck-Letmathe—former Nestlé CEO—has been appointed as acting chair while the search for Schwab’s permanent successor gets underway.
His departure comes at a time when global cooperation is more critical—and more complicated—than ever. As geopolitical tensions, technological disruptions, and economic inequality continue to challenge the global order, the next WEF leadership will face the tough task of maintaining the organization’s credibility and relevance in a rapidly shifting world.
For now, the world watches as Klaus Schwab, a name nearly synonymous with globalization, takes his final bow on the Davos stage. His legacy? An institution that brought the world’s most powerful people into one room, year after year, with the hope of building a better tomorrow.
