World Economic Forum Founder Klaus Schwab to Step Down

Klaus Schwab, the founder and executive chairman of the World Economic Forum (WEF), announced his intention to step back from his role running the global gathering since its inception in 1971. 

In an email to staff on Tuesday, and first reported by Semafor, Schwab revealed his plans to transition from executive chairman to a non-executive chairman position, pending approval by the Swiss government. The change is expected to be finalized before the WEF’s annual meeting in 2025.

Schwab, who has not yet named his successor, noted that over the past year, the group’s executive board, led by President Børge Brende, a former Norwegian conservative leader, has assumed full executive responsibility. The Forum has not provided an immediate comment on Schwab’s decision.

The announcement comes amid recent claims circulating on social media suggesting that Schwab was seriously ill and hospitalized. A WEF spokesperson told Reuters in April that these claims were entirely unfounded, saying, “Professor Schwab is in excellent health and has not been to hospital recently.” 

The spokesperson also highlighted the rise in mis- and disinformation targeting many organizations and individuals, including the WEF.

Schwab, who has been a frequent target of conspiracy theories, has been the subject of other false claims in the past, including misattributed statements about US elections and humans refusing to embrace artificial intelligence, which Reuters has previously addressed.

Information for this story was found via Semafor, and the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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