Klaus Schwab steps down as WEF chair

Schwab has announced his immediate resignation as Chairman of the Board of Trustees of the World Economic Forum (WEF) The 88-year-old informed the Board of Trustees of his decision at an extraordinary meeting on Easter Sunday, the WEF announced in a press release on Monday. It did not provide any further details on the reason for his resignation. “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 is quoted in the WEF press release. 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. Adapted from German by DeepL/ac How we work We select the most relevant news for an international audience and use automatic translation tools such as DeepL to translate them into English. An editor then briefly reviews the translation for clarity ...