The World Economic Forum (WEF) founder and prolonged face, Klaus Schwab announced on Monday that the announcement has been made on Monday.
In a message to the board, Schwab said, “After my recent announcement, and as I have entered my 88th year, I have decided to step down from the position of the chair with immediate effect and as a member of the boards of the trustees.,
According to PTI, the departure of Schwab marks the end of an era to WeF, which he established as a platform for global public-private cooperation 55 years ago. He has been a central figure since then.
At an extraordinary board meeting held on Sunday, the board accepted the resignation of Schwab and unanimously appointed Vice Chairman Peter Barak-Altamhe as the chairman of the chairman advertisement interim, WEF said in a statement.
A search committee has been established to identify a successor that will lead the stage in its next phase.
The WEF board paid tribute to Schwab’s “excellent achievements”, describing it as the architect of the world’s most leading global platform for dialogue and progress. “The board expressed gratitude for its 55 years of tireless leadership at the top of the forum,” the statement said.
Davos, known for its annual meeting in Switzerland, attracts governments, businesses, academics and top leaders of civil society worldwide including India.
As mentioned by PTI, the current WeF Board of Trustees consists of major global figures such as Mukesh Ambani, President of Reliance Industries, Ajay Banga, President of World Bank, IMF Managing Director Christalina Jorgeviva, European Central Bank President Christine Legard, WWTO Director General Negji Okonjo-Iwala, and President of Singapore.
The forum outlined the ongoing importance of its mission. “At a time when the world is undergoing rapid change, the need for inclusive dialogue to navigate the complexity and shape the future has never been more important,” WEF said.
The board confirmed its commitment to maintain the role of the forum as a reliable convenor, continued to bring leaders from all fields together and promoted the insight to share and global cooperation.
Who is Claus Schab?
- Born on March 30, 1938 in Rewensburg, Germany, Klaus Schwab is a German economist, engineer and academic, known as the founder of the World Economic Forum (WEF), which he held for more than five decades.
- In 1971, Schwab launched the WEF (initially the European Management Forum) as a platform to promote dialogue between political, trade and civil society leaders with the mission of “improving the world situation”. Under his leadership, it became the major international organization of the world for public-private cooperation according to the WEF website.
- In 1998, in association with his wife Hilde, he co-install the Schwab Foundation for Social Entrepreneurship, supporting and promotes innovative social enterprises worldwide that resolve important social challenges.
- Using the Dan David Award Dhan received in 2004, Schwab established the forum of young global leaders (YGL) of younger leaders of extraordinary young leaders aged 30 to 40 to shape a more durable and inclusive world.
- Focusing on the youth engagement, Schwab launched the Global Campares community in 2011, with persons between the ages of 20 and 30 were targeted. There are now more than 450 hubs globally, which empower young changemakers to influence their communities.
- Schwab holds several academic degrees, including a doctorate in engineering and economics and master of public administration from Harvard University. He has also worked as a professor of trade policy at the University of Geneva for more than 30 years.
- He is widely recognized as a pioneer of prominent global concepts, such as stakeholder capitalism, multistakholder approach, public-private partnership, and
Fourth industrial revolution Which he discovered in his Bestseling Book The Fourth Industrial Revolution (2016). - Over the years, Schwab has received more than a dozen honorary doctorates from global institutions, and prestigious national honors from countries including Germany, France, Japan, UK (KCMG Knighthood) and China.
- He has been awarded several awards for leadership and humanitarian work, including the Gugneim Humanitarian Award, Dan David Award and the Global Economy Award. Recently, in 2024, he received the Lifetime Achievement Award from the Confederation of the Indian Industry (CII).
