Articles tagged with “leadershipchange”

Klaus Schwab, founder of the World Economic Forum, has retired as chairman after more than 50 years leading the organization. The Geneva based think tank announced his immediate departure on Monday. Schwab, 87, established the influential annual Davos summit, which attracts global leaders from politics, business, and academia. Peter Brabeck Letmathe, former Nestle CEO, was appointed interim chairman by the forum's board. A search committee will select a permanent successor. The Davos meetings under Schwab's tenure hosted prominent figures, including Xi Jinping, Vladimir Putin, and Donald Trump, fostering discussions on global policy and crises. The World Economic Forum's annual gathering in Davos has long been a key platform for high level networking and debate. Schwab's leadership shaped the event into a major fixture on the international stage, bringing together decisionmakers from various sectors since its inception in 1971. His retirement marks the end of an era for the organization.