Klaus Schwab, the founder of the World Economic Forum (WEF), has stepped down from its board, formally ending his day-to-day leadership role after more than five decades. Schwab launched the WEF in 1971 and turned it into one of the most powerful global convening platforms, known for its annual meetings in Davos where heads of state, CEOs, and thought leaders gather to shape global policy.
The WEF confirmed his exit as part of a broader shift to a new governance structure aimed at modernizing the organization for a new era. Schwab will remain with the Forum as a non-executive chairman, playing more of an advisory role going forward.
Schwab’s departure marks the end of a major chapter. Under his leadership, the Forum expanded far beyond economics, tackling climate change, technology regulation, health equity, and global development. Yet it also became a lightning rod for criticism, often seen as a symbol of global elitism disconnected from everyday realities.
Even critics, however, acknowledge Schwab’s influence. He helped create a space where leaders across sectors could talk and collaborate on complex global issues—even if the outcomes were often more symbolic than structural. Now, with Schwab stepping back, the WEF faces the challenge of redefining itself in a world increasingly skeptical of institutions that promise big change from high above.
Leave a Reply