GENEVA, April 21, 2025 (BSS/AFP) - The World Economic Forum said on Monday 
that its founder Klaus Schwab has stepped down from the board, turning a page 
in the history of the organisation that hosts the annual meeting of wealthy, 
famous and influential global elites at the luxury Swiss ski resort of Davos.

Schwab informed the WEF's board that "as I enter my 88th year, I have decided 
to step down from the position of Chair and as a member of the Board of 
Trustees, with immediate effect".

Schwab stepped down as executive chairman last year, with former Norwegian 
foreign minister Borge Brende taking over daily management.

The WEF said Vice Chairman Peter Brabeck-Letmathe was appointed board 
chairman in the interim and that a search committee for replacement had been 
appointed.

WEF's board hailed Schwab's "outstanding achievements" in his 55 years as the 
leader of the organisation.

"At a time when the world is undergoing rapid transformation, the need for 
inclusive dialogue to navigate complexity and shape the future has never been 
more critical," it said in a statement.

"Building on its trusted role, the Forum will continue to bring together 
leaders from all sectors and regions to exchange insights and foster 
collaboration," it added.

- Networking showcase -

Schwab was born in Ravensburg, Germany, on March 30, 1938. He studied at 
Swiss universities and at Harvard in the United States, and holds doctorates 
in engineering and economics, along with more than a dozen honorary 
doctorates.

He was a little-known business professor at the University of Geneva when in 
1971 he founded the WEF's precursor, the European Management Forum.

That first meeting reportedly drew under 500 participants. Since then the 
event has swelled to attract thousands of people each year.

Schwab later broadened the conclave by inviting top political and business 
leaders, representatives from leading non-governmental organisations, trade 
unions and civil society, assembling a prestigious Rolodex as he turned the 
gathering into a showcase for networking and exchanging ideas.

Over the years, success bred further success as many of the world's movers 
and shakers vied to rub shoulders in the Swiss Alps at panel discussions and 
apres-ski socialising.

Newer regional meetings have joined the Davos calendar, and centres exploring 
key issues such as supply chains, cybersecurity, climate, energy and 
financial and monetary systems.

The WEF maintains that it "provides a global, impartial and not-for-profit 
platform for meaningful connection between stakeholders to establish trust, 
and build initiatives for cooperation and progress".

Its mission, it says, is "improving the state of the world".

- 'Davos Man' -

Critics have meanwhile repeatedly charged that WEF's gatherings simply create 
a safe space for the corporate world to lobby governments without oversight.

The event has fostered the concept of the "Davos Man", referring to the elite 
crowd of affluent and sometimes super-wealthy movers and shakers with global 
clout and reach.

Schwab and his organisation have long been the focus of conspiracy theorists.

After he called the first Davos summit following Covid-19 pandemic shutdowns 
as "The Great Reset", conspiracy theorists charged he was the incarnation of 
a globalised elite seeking to enslave and even eliminate portions of 
humanity.

Disinformation has spread on social media alleging that decisions have been 
taken during secretive Davos meetings to unleash epidemics and promote things 
like paedophilia and mass starvation.

Elon Musk, the multi-billionaire owner of X, even said on the platform that 
Schwab "wants to be emperor of Earth".

Misinformation and disinformation topped the WEF's list of short-term global 
risks in its latest global risk report.