Davos forum founder Klaus Schwab to stand down after more than five decades

Stepping down: World Economic Forum founder Klaus Schwab held the first event  in 1971

World Economic Forum founder Klaus Schwab will step down as boss after more than five decades in charge of the organisation which runs the annual meeting of global power brokers in Davos.

Schwab, 86, held the first event at the Swiss ski resort in 1971. This year’s gathering was attended by nearly 3,000 delegates, including more than 50 world leaders.

The forum said that Schwab would move from his role as executive chairman to become chairman of the board of trustees by 2025.

He will be replaced by Borge Brende, a WEF executive and former foreign minister of Norway. 

‘The organisation has been undergoing a planned governance evolution from a founder-managed organisation to one where a president and managing board assume full executive responsibility,’ the forum said in a statement last night.

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