The WEF thanked Schwab for his 55 years of dedicated leadership.

Klaus Schwab steps down as World Economic Forum chair

The WEF thanked Schwab for his 55 years of dedicated leadership and for building what has become a premier global platform for dialogue and progress.

by · India Today

The World Economic Forum's founder Klaus Schwab is to step down as chair of the WEF board of trustees with immediate effect, the Geneva-based institution said in a statement on Monday.

"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," the WEF quoted Schwab as saying in a statement.

The WEF thanked Schwab for his 55 years of dedicated leadership and for building what has become a premier global platform for dialogue and progress.