WEF’s Klaus Schwab Stepping Down as Executive Chairman

The board of trustees that Mr. Schwab will soon head will be organized around four strategic committees ’to further reinforce the impact' of its work.

WEF founder Klaus Schwab delivers a speech during the "Crystal Award" ceremony at the World Economic Forum annual meeting in Davos, on Jan. 16, 2023. Fabrice Coffrini/AFP via Getty Images

Klaus Schwab, founder and executive chairman of the World Economic Forum (WEF), will be stepping down from his leadership role, the transnational group confirmed in a statement.

Citing an internal email from Mr. Schwab to WEF staff on May 21, Semafor first reported the news that he would be stepping away from his role as the face of the organization.