Klaus Schwab steps down as WEF chief

Published 22 May 2024 at 13.01

Foreign. After more than half a century, Klaus Schwab is leaving his leadership role at the World Economic Forum, which he founded. This is reported by CNBC News.

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The World Economic Forum, WEF, organizes an annual conference for global leaders in Davos, Switzerland.

The organization was founded in 1971 by Klaus Schwab – who in recent years has become a target for so-called conspiracy theorists. The theories are that Schwab rules the world secretly, that he wants to force people to eat insects and that he wants to make sure that no one gets to own anything.

Now the 86-year-old economics professor announces that he is stepping down the role of executive chairman. He will continue as chairman of the board.

The question of who will take over from Schwab has been a source of much speculation in recent years. His children and the current chairman Børge Brende have been mentioned as potential successors, writes CNBC.