World Economic Forum founder Klaus Schwab resigns as chairman after 54 years
Klaus Schwab, the founder of the World Economic Forum (WEF), has resigned from his position as the non-governmental organisation’s chair and a member of the board of trustees.
“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 87-year-old said in a statement published by WEF on Monday.
Mr Schwab said in May last year that he would be stepping away from his executive role, ending his leadership at the Geneva-based organisation he established 54 years ago.
Mr Schwab created WEF in 1971 with the aim of creating a forum for policymakers and top corporate executives to tackle major global issues. WEF is widely regarded as a cheerleader for globalisation.
The board of WEF said in a statement that it had accepted Mr Schwab’s resignation following an extraordinary meeting on Sunday.
Also, it confirmed the appointment of Vice Chairman Peter Brabeck-Letmathe as the new interim chairman, pending a permanent replacement.
WEF has faced significant disapproval recently over its annual Davos gathering, with critics accusing the organisation of now prioritising elites over ordinary people.
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
States
Kano architects demand strict enforcement of building regulations
Disturbed by recurring cases of building collapses, the Kano State chapter of the Nigerian Institute of Architects has called for strict enforcement of building regulations.
States
Flooding: NEMA, KADSEMA search for missing persons in Kaduna River
NEMA and KADSEMA have launched a search-and-rescue operation for two persons swept away by floodwaters in the Kaduna River.
States
Police rescue 15 cows, one Katsina resident from bandits
The police command in Katsina says it has foiled kidnap and cattle rustling attempts in Funtua and Musawa council areas, rescuing one kidnap victim and recovering 15 rustled cows.
Agriculture
Farmers seek subsidised farm inputs to boost food production in Taraba
The farmers said the high cost and limited availability of fertilisers and other essential farm inputs had become major constraints as the rainy season commenced.
Politics
Kaduna: 12,000 people defect to APC in Lere LG
Twelve thousand members of opposition political parties have defected to the All Progressives Congress in the Lere council area of Kaduna.
Anti-Corruption
LS Cable & System USA agrees to pay $4 million to resolve PPP loan fraud allegations
LS Cable & System USA has agreed to pay $4 million to the United States to resolve allegations of false claims for payments under the Paycheck Protection Programme loans.
