Who Is Klaus Schwab? World Economic Forum Founder Steps Down After 55 Years

Klaus Schwab, the founder and long-time face of the World Economic Forum (WEF), has officially stepped down from his role as Chair and member of the Board of Trustees, ending a remarkable 55-year journey that redefined the relationship between governments, businesses, and civil society. The 87-year-old made the announcement Monday, stating, "As I enter my 88th year, I have decided to step down... with immediate effect."

The decision was formalized at an extraordinary board meeting on April 20.

Who Is The Interim Chair?

Peter Brabeck-Letmathe, Vice Chairman and former Nestlé CEO, has been appointed as interim Chair, and a search committee has been formed to identify Schwab’s successor.

Born in Germany in 1938, Klaus Schwab’s career is a blend of academic brilliance, industrial experience, and institutional vision. With degrees in engineering, economics, and public administration—from institutions like ETH Zurich, University of Fribourg, and Harvard—Schwab brought an interdisciplinary approach to global problem-solving. His early years included boardroom roles and policy advisory positions before he founded the WEF in 1971.

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Initially a European management symposium, the WEF grew under Schwab’s stewardship into a global powerhouse—an annual gathering in the snowy Swiss town of Davos where heads of state, billionaires, academics, and activists converge to shape global, regional, and industry agendas. Schwab coined and championed key concepts such as "stakeholder capitalism," "corporate global citizenship," and the "Fourth Industrial Revolution," placing the WEF at the heart of global thought leadership.

Over the years, he also launched influential platforms like the Schwab Foundation for Social Entrepreneurship, the Forum of Young Global Leaders, and the Global Shapers Community—initiatives aimed at cultivating the next generation of changemakers.

Despite its influence, the WEF has faced mounting criticism for becoming an elite club perceived as detached from the real-world challenges faced by ordinary citizens. Yet, Schwab remained undeterred in his belief in dialogue, cooperation, and innovation as forces for good.