By World Economic Forum founder and executive chairman Klaus Schwab will be stepping back from his role running the global gathering since he founded it in 1971.
Schwab announced his intentions in an email to staff on Tuesday that was shared with Semafor by a person connected to the organization.
He will be stepping down as executive chairman and transitioning to a role as non-executive chairman, he said, adding the change in his role is pending approval by the Swiss government.
In a statement, a spokesperson for the Forum said that the organization is “transforming from a convening platform to the leading global institution for public-private cooperation.” The Forum’s governance structure is set to change as a result of that evolution, the spokesperson said, and Schwab “will transition from Executive Chairman to Chairman of the Board of Trustees” by January 2025.
Schwab has not named his successor, but said that over the last year, the group’s executive board, “under the leadership of President Børge Brende, has taken full executive responsibility.”
Brende is a former Norwegian conservative leader.
