At 88, the founder of the World Economic Forum announced his immediate retirement. Peter Brabeck-Letmathe, former CEO of Nestlé, will hold the position interimly while choosing a final successor.
Klaus Schwabfounder and central figure of the Davos World Economic Forum (WEF)announced his final retirement as president of the organization that he created more than five decades ago. To the 88 yearsSchwab ended his stage at the head of the Davos Forum, considered the main global space for dialogue between governments, companies and social leaders.
The decision was communicated during a Extraordinary meeting of the Wef Councilheld on April 20, where his resignation was also formalized as a member of the Board of Directors. Unanimously, the Council appointed as an interim president Peter Brabeck-LetmatheAustrian entrepreneur with long corporate experience and former CEO and president of Nestléwho will assume the position until a new permanent holder is defined.
Davos Economic Forum
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Schwab: half -century legacy in front of Davos
The World Economic Forum Council thanked Schwab for his “55 years of tireless leadership”, Highlighting its key role in the consolidation of the WEF as a global platform for Promote public-private cooperation, sustainable development and technological innovation.
From its foundation in 1971the Davos forum became a key event on the international agenda. Every January, political leaders, CEOs of the main multinationals, academics and social referents meet in Switzerland to discuss the most urgent economic, social and environmental challenges.
In its latest edition, held in January 2025 under the motto “Collaboration for the intelligent era”issues related to new technologies were discussed, such as artificial intelligencethe Quantum computing and the biotechnologyin a global context marked by geopolitical tensions, climate crisis and economic fragmentation.
A transition in a more complex world
Schwab’s departure occurs at a time of great Global structural transformationwhere the need for dialogue and cooperation between public and private actors is increasingly urgent. The Wef reaffirmed its commitment to its original mission: “Gather leaders from all sectors and regions to exchange perspectives and promote collaboration.”
Peter Brabeck-Letmathe, who will lead the forum at this transition stage, is recognized for its pragmatic profile and its experience in global corporate governance. Your designation seeks to guarantee Institutional continuity while the forum succession committee advances in the search for a new president who embodies the foundational values of Davos.
Source: Ambito
