Klaus Schwab, the 86-year-old founder of the World Economic Forum, is to resign as its executive chair after more than half century at the helm of the world’s pre-eminent business conference.
Schwab has presided over the annual gathering in the Swiss ski resort of Davos since founding it in 1971, turning it into a business with revenues of €500mn. He will step back in January and assume a new role as chair of WEF’s board of trustees.
Børge Brende, president of the WEF executive board and a former foreign minister of Norway, is to take over.
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