Klaus Schwab, founder and long-time executive chairman of the World Economic Forum (WEF), emailed staff on Tuesday to announce his intent to step down. The email indicated that Schwab, who has led the organization since 1971, will move to a non-executive chairman role. The transition is awaiting approval from the Swiss government and is anticipated to be completed before the WEF’s annual meeting in 2025.
Under Schwab’s leadership, the unaccountable corporate-backed giant has grown significantly, generating nearly $500 million in revenue in the fiscal year ending March 2023. The organization also has reserves of approximately 200 million Swiss francs. Upon Schwab’s departure from the executive role, his family’s involvement with the WEF will continue. Schwab’s children have been appointed to high-ranking positions within the organization, and his wife, Hilde, oversees the WEF’s foundation and its awards ceremonies in Davos.
The change in leadership comes as Schwab, now 86, seeks to step […]
Read the Whole Article From the Source: thenationalpulse.com
Click this link for the original source of this article.
Author: The National Pulse
This content is courtesy of, and owned and copyrighted by, https://discernreport.com and its author. This content is made available by use of the public RSS feed offered by the host site and is used for educational purposes only. If you are the author or represent the host site and would like this content removed now and in the future, please contact USSANews.com using the email address in the Contact page found in the website menu.