Klaus Schwab has officially stepped down as Chairman of the World Economic Forum’s Board of Trustees, effective immediately. The 88-year-old made the announcement during an
extraordinary board meeting held on Easter Sunday, according to a WEF press release issued Monday.
“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 stated.
The WEF did not disclose the reasons behind his resignation.
In response, the Board unanimously appointed Vice Chairman Peter Brabeck-Letmathe as interim Chair and has formed a Search Committee to identify a permanent successor. Photo by World Economic Forum, Wikimedia commons.