Klaus Schwab Resigns as Executive Chairman of the World Economic Forum

Not Related to Charles Schwab, Founder of Charles Schwab Corporation

Professor Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, has announced his resignation.

Schwab, 86, founded the World Economic Forum in 1971. The organization is best known for its annual meeting in Davos, Switzerland, which brings together world leaders, business executives, and other influential figures to discuss global issues.

In a statement, Schwab said he will step down from his role effective May 10th. He will be succeeded by Børge Brende, the former Norwegian foreign minister.

Klaus Schwab is not related to Charles Schwab, the founder of the Charles Schwab Corporation. Charles Schwab is an American investor and financial executive who was born in 1937.