Klaus Schwab to Step Down as World Economic Forum Head

Klaus Schwab, founder and executive chairman of the World Economic Forum (WEF), will transition from his current role to become a non-executive chairman. This shift, which is pending approval from the Swiss government, is expected to be finalized before the WEF's annual meeting in 2025. Schwab has been with the organization since its inception in 1971 and has not yet named a successor.

The transition is part of a broader strategy to change the WEF's governance structure, moving to a president and managing board model. Børge Brende, currently serving as president, is among those praised by Schwab for their leadership. Schwab will continue to be involved with the WEF as chairman of the board of trustees, which will be organized around four strategic committees aimed at enhancing the organization's impact.