Yesterday, the Financial Times reported that Schwab, WEF’s 87-year-old founder, will “start the process” of stepping down as chair of its board of trustees, weeks after the organisation promised an overhaul after an investigation into workplace discrimination.
In a letter, Schwab said that WEF must recover its “sense of mission” after a period of turmoil. “I am deeply convinced that in today’s special context the forum is more important and relevant than ever before,” he said. “It is also financially very well equipped.”
“What is essential now after the turmoil of the last months, is to recover our sense of mission,” he said, without specifying if the upheaval he was referring to was in response to Donald Trump’s second presidential term or the investigation of WEF.
Schwab said making the announcement on 1 April had special significance given that he had started to develop the concept of a “global village” on this exact date 55 years ago.
He didn’t give a timeline for his departure from WEF but said the process should be completed by January 2027. He will now focus on writing his memoirs....<<<Read More>>>...
