Klaus Schwab has resigned as chairman and member of the Board of Trustees for the World Economic Forum. “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,” Schwab said. BREAKING: Klaus Schwab has resigned from the WEF effective immediately pic.twitter.com/DwLokMKvYc — Libs of TikTok (@libsoftiktok) April 21, 2025 From the WEF: At an extraordinary Board meeting on 20 April, the Board of Trustees took note of the resignation of Klaus Schwab. In accordance with the Forum’s Rules and Regulations, the Board unanimously appointed Vice Chairman Peter Brabeck-Letmathe as Chairman ad interim. It also established a Search Committee for the selection of a future Chair. The Board acknowledged the outstanding achievements of the retired Chairman and Founder of the World Economic Forum, Klaus Schwab. He created the leading global platform for dialogue and progress, and the Board expressed its gratitude for his 55 years of relentless leadership at the helm of the Forum. At a time when the world is undergoing rapid transformation, the need for inclusive dialogue to navigate complexity and shape the future has never been more critical. The Board of Trustees of the World Economic Forum underlines the importance of remaining steadfast in its mission and values as a facilitator of progress. Building on its trusted role, the Forum will continue to bring together leaders from all sectors and regions to exchange insights and foster collaboration. JUST IN – World Economic Forum founder and chairman Klaus Schwab resigns with immediate effect — NZZ pic.twitter.com/hLA64DFxUe — Disclose.tv (@disclosetv) April 21, 2025 Breaking: Klaus Schwab, 87, has resigned as Leader of the World Economic Forum, effective immediately. (Reuters) Schwab founded WEF in 1971 and used the forum to lobby policymakers around the world & influence top corporate executives to push his globalization agenda. pic.twitter.com/8VqR6JxAIC — Lindsay Penney (@TexasLindsay_) April 21, 2025 Per Reuters: Widely regarded as a cheerleader for globalisation, the WEF’s Davos gathering has in recent years drawn criticism from opponents on both left and right as an elitist talking shop detached from lives of ordinary people. Headquartered above Lake Geneva at the other end of Switzerland from Davos, the WEF has also had to cope with negative reports about its internal culture. The Wall Street Journal last year said the WEF’s board was working with a law firm to investigate its workplace culture, after the newspaper reported allegations of harassment and discrimination at the forum. The WEF denied the allegations. Shaken by the 2007-2009 global financial crisis, the WEF has also been buffeted by geopolitical tensions since the 2022 Russian invasion of Ukraine and more protectionist U.S. trade policies. Some analysts see it as an institution in decline. Schwab anticipated globalisation would come under fire long before Donald Trump first won the U.S. presidency and Britain voted to leave the European Union in 2016, events which analysts attributed to discontent with the prevailing economic order.