Klaus Schwab Steps Down from WEF Leadership

In a surprising move, Klaus Schwab has announced his immediate resignation from the position of Chair of the World Economic Forum (WEF). This decision comes as Schwab enters his 88th year, marking the end of an era for the organization he founded.

Interim Leadership and Future Steps

The WEF has disclosed that Vice Chairman Peter Brabeck-Letmathe will serve as the interim chairman. A newly established search committee is set to begin the process of selecting a permanent successor to Schwab, ensuring the forum's continued influence on global economic policies.