End of an Era: Klaus Schwab Steps Down from the World Economic Forum
Klaus Schwab, the 87-year-old founder and executive chairman of the World Economic Forum (WEF), has officially stepped down from his leadership role, marking the end of an era that began in 1971. His resignation was announced on April 21, 2025, via a press release issued by the WEF.
“As I enter my 88th year, I have decided to step down from the position of Chair and as a member of the Board of Trustees, with immediate effect,” Schwab stated.
Who Is Klaus Schwab?
A German engineer and economist, Schwab is widely known for founding the WEF, a nonprofit organization based in Geneva, Switzerland. The WEF is best known for its annual meeting in Davos, where world leaders, CEOs, and thought leaders gather to discuss pressing global issues—from economic development and climate change to AI and global health.
Under Schwab’s guidance, the WEF grew into one of the most powerful and controversial think tanks on the planet. His concept of “stakeholder capitalism” became the cornerstone of WEF ideology, urging businesses and governments alike to serve not just shareholders, but also employees, communities, and the environment.
A Controversial Legacy
Despite its stated mission to “improve the state of the world,” the WEF has been met with increasing scrutiny. Many critics—particularly within libertarian and crypto communities—argue that the WEF represents a form of top-down global governance, led by unelected elites.
The organization has been mocked for promoting ideas such as reduced private property ownership and alternative food sources like insect consumption. Viral memes like “You will own nothing and be happy” and “You will eat ze bugs” reflect the cultural backlash to the WEF’s agenda.
Nevertheless, the forum remains a powerful convening force, especially among global business and policy elites.
Who Will Replace Klaus Schwab?
As of now, Peter Brabeck-Letmathe, former Chairman and CEO of Nestlé and long-time vice-chairman of the WEF, has taken over as interim chairman. The organization has launched a search for a permanent successor.
This transition raises important questions:
- Will Schwab’s successor continue his legacy or take the WEF in a new direction?
- How will public skepticism and geopolitical tensions shape the forum’s future?
- Can the WEF remain relevant in an era increasingly defined by decentralization and populism?
The Future of the WEF in a Changing World
The WEF currently employs around 600 staff members and operates offices in Geneva, New York, Beijing, and Tokyo. While it continues to push its mission of multistakeholder dialogue, Schwab’s departure could signal a shift in tone or strategy.
With rising distrust in global institutions and growing interest in decentralized governance models, Schwab’s successor will face the difficult task of redefining the forum’s role in a fast-changing world.
Final Thoughts
Klaus Schwab’s resignation is more than just a leadership change—it may represent a turning point for the World Economic Forum itself. As the torch is passed, all eyes will be on Davos 2026 to see how the WEF adapts to a world increasingly resistant to top-down control.
Stay tuned as we continue to follow the evolving story of the WEF and its role in shaping global priorities in the post-Schwab era.