Klaus Schwab, the founder of one of the world’s largest economic think tanks and a Non-Governmental organisation, the WEF, has stepped down from his role as Chairman of the Board. A position he has held for the last 54 years, since 1971, when the organisation was founded. He just turned 87, and age played a big part in his decision to retire from the company. As he puts it in his own words, “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.”
WEF’s board of trustees includes some of the marquee figures in world economics and politics, like the former Vice President of the United States of America, Al Gore, who served in the office during Bill Clinton. The board also has Larry Fink, Chair and CEO of the biggest asset management company in the world, BlackRock.
Shortly after the announcement, President Donald Trump of the United States also delivered remarks on the resignation and said that Klaus Schwab has had a remarkable impact on the global economy and business leaders.
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Now, the WEF has announced that “By January 2025, Klaus Schwab will transition from Executive Chairman to Chairman of the Board of Trustees.”
