Klaus Schwab Steps Down from WEF Leadership

In a surprising move, Klaus Schwab announced his immediate resignation as the chair of the World Economic Forum (WEF) on Monday. This decision comes as Schwab enters his 88th year, marking a significant transition for the organization he founded.

Interim Leadership and Future Steps

The WEF has confirmed 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.