World Economic Forum board chairman steps down after 55 years

The World Economic Forum has begun a search for a new chairman after its founder, Klaus Schwab, resigned as chairman of the Board of Trustees.

This was reported by the forumʼs press service.

"Following my recent statement, and in light of my turning 88, I have decided to step down as Chairman and member of the Board of Trustees, effective immediately," Schwab said.

At a special meeting on April 20, the Board of Trustees took note of Schwabʼs resignation. The Board unanimously appointed Vice Chair Peter Brabeck-Letmate as interim Chair.

The Board of Trustees also created a search committee to select a candidate for the position of the future chairman of the forum.

• The World Economic Forum is an international non-governmental organization based in Geneva, whose activities are aimed at developing international cooperation.

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