Klaus Schwab, the prominent globalist and head of the World Economic Forum (WEF), has reportedly informed staff that he will be stepping down as executive chairman. The 86-year-old, often referred to as the Sultan of Davos, communicated his decision…
Klaus Schwab, the prominent globalist and head of the World Economic Forum (WEF), has reportedly informed staff that he will be stepping down as executive chairman. The 86-year-old, often referred to as the Sultan of Davos, communicated his decision via email on Tuesday. According to the website Semafor, Schwab will likely continue in a non-executive capacity.
A spokesman for the WEF announced that the Forum will undergo a change in its governance structure. As part of this transition, Schwab will move from his role as Executive Chairman to Chairman of the Board of Trustees by the start of next year.
While Schwab has not officially named his successor, the Financial Times reported that former Norwegian Foreign Minister and current WEF President Børge Brende is expected to assume the top position in Davos.
Last year, POLITICO revealed that 29 insiders at the WEF described Schwab as treating the organization like a “family heirloom.” This has led to speculation that Schwab might have considered appointing one of his two children, Nicole or Olivier, both of whom hold high-ranking positions within the WEF, as his successor.
The final decision on Schwab's successor will reportedly require approval from the Swiss government, which hosts the WEF's annual Davos meeting. Schwab's decision to step down comes despite his earlier claims of wanting to remain in power and lead the WEF for decades to come.
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