WEF founder Klaus Schwab steps down from board

The founder of the World Economic Forum, Klaus Schwab, who was 87 years old, resigned from the Organization Board of Trustees.

“After the last announcement, and with the entry of the eighty -eighth year, I decided to step down from the position of the president and as a member of the Board of Trustees, with an immediate impact,” Schwab told the council.

The WEF Board of Trustees includes prominent numbers such as former US Vice President Al Gore, a democrat served alongside President Bill Clinton, Larry Fink, President and CEO of Black Rock Investment Company.

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The founder and president of the World Economic Forum, Klaus Schwab, will attend a session during the annual meeting of the World Economic Forum (WEF) in Davos on January 21, 2025. (Fabrice Coffrini/AFP via Getty Images)

“In a meeting of the extraordinary board of directors on April 20, the Board of Trustees noticed the resignation of Klaus Schwab,” the press statement indicated.

The organization is behind the Davos annual meeting, which attracts high -level political, business and academics from all over the world.

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Shortly after he took office earlier this year, President Donald Trump made remote notes to the WeF gathering.

During the event, when answering a question from Brian Mounehan, Chairman and CEO of Bank of America, Trump said: “I have done a great job, but I hope you start opening your bank to the conservatives, because many conservatives complain that banks do not allow them to do business within the bank, and this includes a place called Bank America.”

Wef announced last year: “By January 2025, Klaus Shawab will move from the CEO to the Chairman of the Board of Trustees.”

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Wef website states that the organization “involves political, commercial, academic, civil society and other community leaders to form global, regional and industrial business schedules.”