by Alessandro Speciale and Bastian Benrath

May 21, 2024

(Bloomberg) — Klaus Schwab, the founder and executive chairman of the World Economic Forum, is stepping down from active leadership of the body that convenes the annual meetings of global executives and politicians in Davos, Switzerland.

Schwab, 86, announced his decision on Tuesday and is transitioning to a non-executive role by January 2025, according to a statement on the WEF website.

“The organization has also been undergoing a planned governance evolution from a founder-managed organization to one where a president and managing board assume full executive responsibility,” the WEF said.

The body didn’t specify who would take those roles. Semafor reported the decision earlier.

Schwab started what became the World Economic Forum in 1971 — initially called the European Management Forum — as a symposium on corporate management.

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  1. Hmm….now he steps down, I am hoping he has a deadly disease and dies a painful slow death, I bet Mr. Bill Gates takes over for him, this will be interesting who takes that position.