Klaus Schwab Steps Down from WEF Leadership

In a surprising move, Klaus Schwab, the founder and long-standing chair of the World Economic Forum (WEF), announced his immediate resignation on Monday. This decision comes as Schwab enters his 88th year, marking the end of an era for the influential global organization.

Interim Leadership and Future Steps

The WEF has disclosed that Vice Chairman Peter Brabeck-Letmathe will serve as the interim chairman. A newly established search committee is set to undertake the crucial task of selecting a successor to lead the forum into its next chapter.