Klaus Schwab, founding father of the World Economic Forum (WEF), which brings collectively the world’s business and political elite within the Swiss mountain village of Davos yearly, has resigned as chair of its board of trustees, the WEF stated on Monday.
The Geneva-based establishment had introduced earlier this month that Schwab, 87, could be stepping down, with out indicating a timeframe.
“Following my recent announcement, and 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 stated in a press release launched by the WEF.
The WEF board said in a press launch that it had accepted Schwab’s resignation at a rare assembly held on April 20, and that Vice Chairperson Peter Brabeck-Letmathe would function the interim chairperson.
A committee has been established to nominate a future chair.
Schwab established the WEF in 1971, with the intention of making a discussion board for policymakers and high company executives to handle main world points.
Widely considered a cheerleader for globalization, the WEF’s annual Davos gathering has, lately, drawn disapproval from critics as elitist and disconnected from peculiar folks.
Source: www.dailysabah.com