Klaus Schwab Resigns as Chair of the World Economic Forum
Klaus Schwab, the founder and chairman of the World Economic Forum (WEF), announced his immediate resignation today at the age of 87, coinciding with the news of Pope Francis’s death. Schwab, whose net worth is approximately £18 million, stated his decision to step down follows his recent announcement and his upcoming 88th birthday. Vice chairman Peter Brabeck-Letmathe has been appointed interim chair while the committee seeks a successor, ensuring the continuation of the Davos conference, a platform for global leaders to address pressing issues since its inception in 1971.
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