Klaus Schwab has announced his immediate resignation as Chairman of the Board of Trustees of the World Economic Forum, WEF.
Schwab informed the Board of Trustees of his decision at an extraordinary meeting on Easter Sunday.
The WEF announced this in a press release on Monday, adding that the 88-year-old did not provide any further details on the reason for his resignation.
“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,”; Schwab is quoted in the WEF press release as saying.
Meanwhile, the Board unanimously appointed Vice Chairman Peter Brabeck-Letmathe as interim Chairman.
Schwab established the WEF in 1971 with the aim of creating a forum for policymakers and top corporate executives to tackle world's major issues.
