Geneva – Klaus Schwab, the founder of the World Economic ForumBetter known for organizing an annual meeting of political elites, business and other elites in the Swiss city of Alpine in Davos, he retires as president more than half a century after creating the group of host -based experts in Geneva, said the forum on Monday.
The forum cited Schwab, 87, in a statement saying that he was renouncing “with immediate effect.”
The former president and CEO of Nestlé, Peter Brabeck-Letmathe, was unanimously selected as an interim president by the Board of the Forum at a special meeting on Sunday, according to the statement. A search committee has been established to choose a permanent successor.
The forum Annual Meeting in Davos For decades, it has served as a global center where decision makers, academics, leaders of international organizations and elite business executives rub their shoulders to discuss government policy, global crises and the creation of agreements.
The meeting, typically in January, has organized a long list of world leaders under the 55 -year mandate of Schwab, including President Xi Jinping of China, Vladimir Putin de Russia, Donald Trump of the United States and many more heads of state and government.
“At a time when the world is experiencing a rapid transformation, the need for an inclusive dialogue to navigate the complexity and the form of the future has never been more critical,” said the forum in the statement, underlining its mission as a “facilitator of progress” that will continue to bring together leaders to exchange ideas and develop cooperation.
