
Founder Klaus Schwab Steps Down As Chairman Of World Economic Forum
Klaus Schwab has retired as Chairman of the World Economic Forum, the Geneva-based organisation he founded over 50 years ago, with immediate effect.
Schwab is the founder of the World Economic Forum (WEF), established in 1971 to create a platform for cooperation between business, government, and society. Before founding WEF, he managed a Swiss machine-building group and was a professor in Geneva until 2003. In 1998, Schwab and his wife, Hilde, launched the Schwab Foundation for social entrepreneurship. He introduced the concept of stakeholder capitalism in his 1970 book ‘Modern Management’ and authored ‘The Fourth Industrial Revolution’ in 2017. He has served on multiple Boards and received global recognition. He holds doctorates in engineering, economics, and social sciences from the Swiss Federal Institute Zurich and the University of Fribourg and an MPA from Harvard University.