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Klaus Schwab Steps Down as WEF Chairman and Peter Brabeck Named Interim Successor.

Appointment | Dated: 24 Apr 2025

In April 2025, Klaus Schwab, founder of the Geneva (Switzerland)-based World Economic Forum (WEF), announced his resignation as Chairman and member of the Board of Trustees with immediate effect.

🎯 Key Highlights:

  • - Following Klaus Schwab's resignation, the WEF's Board of Trustees held an extraordinary meeting, during which Peter Brabeck-Letmathe, former Chairman and Chief Executive Officer (CEO) of Nestlé S.A., was unanimously appointed as interim Chairman.
  • - Peter Brabeck-Letmathe, an Austrian businessman, has been associated with the WEF as Vice Chairman of the Foundation Board.
  • - Klaus Schwab, a German engineer and economist, founded the WEF in 1971, aiming to foster dialogue between political, business, and academic leaders to address global challenges.

💡 Other Important Facts:

  • (i) Under his leadership, the WEF gained recognition for its annual meetings in Davos, Switzerland, where global leaders from various sectors convene to discuss critical international issues.
  • (ii) Schwab founded the Forum of Young Global Leaders (YGL) and co-founded the Schwab Foundation for Social Entrepreneurship.
  • (iii) He has received several accolades for his leadership and humanitarian contributions, including the Guggenheim Humanitarian Award, the Dan David Prize, and the Global Economy Prize.

📚 Test Your Knowledge:

Who has been recently appointed as the interim Chairman of the World Economic Forum (WEF)?

Correct Answer: Peter Brabeck-Letmathe

🚀 Quick Recap: