Schwab steps down as WEF chair - Breaking The News

Schwab steps down as WEF chair

21 April

1 min read

EPA-EFE/MICHAEL BUHOLZER

Klaus Schwab announced on Monday that he is stepping down from the role of the chair of the World Economic Forum (WEF) effective immediately, confirming earlier reports.

"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," the 88-year-old Schwab stated.

The WEF noted it will Vice Chairman Peter Brabeck-Letmathe will act as interim chairman until the newly established search committee conducts a selection for the future chair.

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