Founder of Davos Summit Exits Amid Organizational Turmoil, No Successor Named

GENEVA — Klaus Schwab, the founder and long-time chairman of the World Economic Forum (WEF), announced his immediate resignation from his role as chairman of the board of trustees on Monday, April 21, 2025, ending a 54-year tenure at the helm of the organization known for its annual Davos gatherings. The 87-year-old German economist cited a need for the WEF to “recover its sense of mission” following a period of internal and external challenges, according to sources familiar with the decision.

The unexpected departure, reported by outlets such as Neue Zürcher Zeitung and confirmed by posts on X, marks a significant shift for the WEF, which Schwab founded in 1971 as the European Management Forum. A WEF spokesperson declined to provide further details on the abrupt exit, stating only that Schwab’s decision was effective immediately and that the organization would begin the process of selecting a new chairman. No interim chairman was named, leaving the WEF’s leadership structure uncertain as it navigates this transition.

Schwab’s resignation follows a tumultuous period for the WEF. Last year, the organization faced scrutiny over allegations of workplace harassment and discrimination, prompting an investigation by external lawyers. The probe, reported by the Financial Times, found no legal violations or substantiated misconduct against Schwab but identified “leadership and management issues” that fell short of the WEF’s standards. Additionally, the WEF has grappled with political headwinds, including criticism from conservative figures and a reported $52 million cut in U.S. funding under President Donald Trump’s second term, as noted in posts on X

Under Schwab’s leadership, the WEF grew from a modest symposium into a global platform attracting over 2,500 corporate executives, politicians, and public figures annually to discuss issues like inequality, climate change, and globalization. The Davos summit became a symbol of elite cooperation but also drew criticism as a “talking shop for the jet set,” with detractors arguing it failed to address global challenges effectively.

Schwab, who transitioned from executive chairman to chairman of the board of trustees in January 2025, had previously signaled plans to step down by January 2027. However, his immediate exit has sparked speculation about internal pressures or strategic shifts within the WEF, particularly as it seeks to reposition itself amid a polarized global landscape.

World leaders and business figures expressed mixed reactions. Salesforce CEO Marc Benioff, a WEF trustee, praised Schwab’s “visionary leadership,” while others, including critics on X, celebrated the move as a blow to globalist agendas, referencing Schwab’s controversial “Great Reset” initiative.

The WEF, now led operationally by President Børge Brende, faces the challenge of appointing a successor to maintain its influence. With no clear timeline or candidate announced, the organization enters a period of uncertainty as it prepares for its next Davos meeting in January 2026. Schwab, who has authored books like Stakeholder Capitalism and received honors such as the French Legion of Honour, leaves a complex legacy as a pioneer of global cooperation and a lightning rod for conspiracy theories.